11,000 net jobs cut, two mfg facilities close, early exit from former ABT site in No. Chicago. Net savings $30M/yr but not till 2008, big restructuring charges prior.Market will probably like it, but sucks for a lot of former ABT / now HSP'ers
This my friends is a very bad thing indeed, for all, inc. most esp all long ABT.Sad deal this, makes you wonder what the hell is going to happen next!
...correction 1,100 jobs (not 11,000). Still a lot.