08 Aug 2013, BioSpectrum Bureau , BioSpectrum
Singapore: PerkinElmer has fired 265 employees as part of its second quarter restructring plan to shift operations, the company disclosed in a recent federal filing. The cuts come after the company reduced its staff by 62 employees in the first quarter 2013.
According to the company, management approved a plan during the quarter to shift operations into what it calls a "newly established shared services center." The move, it says, comes as a result of previous acquisitions.
The company said it had a $9.9 million pre-tax restructuring charge in its Human Health division related to the cuts and the closer of "excess facility space," and had a $8.8 million pre-tax charge in the Environmnental Health division related to cuts and the closure of excess space. Employees were notified on the last day of June.
PerkinElmer said it anticipates that the remaining severance payments of $17.8 million for workforce reductions will be completed by the end of the fourth quarter of fiscal year 2014.
For the quarter, PerkinElmer reported revenue of $547.1 million, a four percent boost from the $521.8 million reported in the same period 2012, which beat expectations of $532.9 million. The boost reflected a $12.2 million, or 4 percent, increase in its Human Health division and an increase of four percent or $9.3 million in its Environmental Health division.