Baxter International said it would cut as many as 4,000 more jobs worldwide, 8% of its global workforce, in a continuing effort to right a weak financial performance. About half of the positions to be eliminated are in the U.S. In addition, for the second time in a year, the company will reduce plasma production -- this time by 13%, or 400,000 liters -- and close plasma collection centers. Baxter expects to take up to a $400 million charge in the second quarter for severance and facility closing costs. For the first quarter ended March 31, the company earned $189 million, or 31 cents per share, on revenue of $2.2 billion. That was down from income of $217 million, or 36 cents per share, on revenue of $2 billion for the year-ago quarter. Earlier this week, Baxter announced that Robert Parkinson Jr., formerly president and chief operating officer of Abbott Laboratories, had been elected chairman and chief executive officer, effective April 26, succeeding Harry Kraemer Jr., who announced his resignation in January. Last summer the company significantly reduced its plasma business and announced plans to cut nearly 6% of its workforce. -- by Cinda Becker
Baxter to again cut jobs, plasma business
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