Mylan (NSDQ:MYL) shares dropped 5% this morning after it said in regulatory filing that it expects to cut less than 10% of its global workforce as a result of its restructuring efforts.
The Canonsburg, Penn.-based company has about 35,000 employees, according to Reuters, and wrote in the SEC filing that it will implement restructuring programs in specific locations in an effort to take cost-cutting measures following a number of acquisitions that it made in the past year. Mylan said it will disclose more details, including how much the efforts will cost, as the company finalizes its plans.
Get the full story at our sister site, Drug Delivery Business News.
The post Mylan to cut 10% of workforce in restructuring efforts appeared first on MassDevice.
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