Baxter has allocated roughly $100 million for layoffs - this is a restructuring charge - if you do the math, this boils down to roughly 1,000 people to be laid off...
I am assuming it'll cost about 100K per each person laid off (severance pay, etc - so it's safe to assume that 1K will be laid off). Post more if you hear anything...
@K4PLZ0u-nom - yes you are correct about layoffs, but nobody, NOBODY can say that Baxter is not taking care of folks who are let go for whatever reason
1,400 layoffs took place in 2015, a few hundred this year - this will continue well into 2017 - brace for the impact it'll be a rough ride - Baxter will not be a good place to work at for long long time
This is going to be Jose Almeida's legacy - the new CEO will continue cutting until he sells us...
Baxter spokeswoman Deborah Spak declined to say how many employees in which locations are losing their jobs, but she said the "reductions" are occurring in more than 40 countries. Baxter, which makes renal and hospital products, has 4,500 employees in Illinois.
http://www.chicagotribune.com/business/ct-baxter-layoffs-money-1026-biz-20161025-story.html