KCI ready to shed 300 employees
This article was originally published in Clinica
Kinetic Concepts (KCI) is set to cut 4% of its workforce, in a bid to increase shareholder value and improve its financial operations. The San Antonio, Texas-based company will axe around 300 of its global staff and expects to take a hit of $7-10m in the first quarter of 2009. KCI has also created a Global Shared Services Team (GSST), which will undertake the job of improving the company’s productivity and performance. The GSST is expected to yield $100m in annualised savings by the end of the year, according to KCI.
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