Cardinal Health, Dublin, Ohio, said it will eliminate 1,300 jobs within two business lines that the company expects to spin off later this year as CareFusion Corp. Roughly 500 of the job cuts in Cardinal Healths clinical and medical-product businesses will be made through attrition, the company said in a news release.
The remaining 800 jobs will be eliminated during the next six months. Cardinal Health said the cuts will save $110 million to $130 million annually within two years, and reported an expected restructuring charge of $33 million through the end of June and $24 million for fiscal 2010. Cardinal Health also said it would take additional cost-cutting measures, citing the economic downturn and delayed capital spending by hospitals.