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| CAH > SEC Filings for CAH > Form 8-K on 31-Mar-2009 | All Recent SEC Filings |
31-Mar-2009
Costs Associated with Exit or Disposal Activities, Regulation FD Disclosure,
On March 31, 2009, Cardinal Health, Inc. (the "Company") announced that its Clinical and Medical Products segment, which the Company is planning to spin off later this year as a separate, publicly-traded company named CareFusion Corporation, will reduce its global workforce by approximately 800 people over six months and eliminate an additional 500 positions through normal attrition and not filling open roles. In addition, the Company will implement cost control measures and additional reductions in discretionary spending across all of its businesses, primarily in response to a delay in hospital capital spending and the overall decline in the global economy.
On March 30, 2009, the Company was authorized to incur certain costs associated with exit or disposal activities in connection with this restructuring plan. At this time, the Company estimates the total costs associated with this restructuring plan to be approximately $57 million on a pre-tax basis, of which approximately $33 million of these costs are expected to be incurred in fiscal 2009, with the remainder expected to be incurred in fiscal 2010. These estimates may change in the future. All of these costs are employee-related costs and are expected to result in future cash expenditures. The Company expects this restructuring plan to be completed by the middle of fiscal 2010.
On March 31, 2009, the Company issued a news release announcing a reduction in its workforce and other cost control measures. A copy of the news release is included as Exhibit 99.1 to this report.
(d) Exhibits
99.1 News release issued by Cardinal Health, Inc. on March 31, 2009.
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