Baxter International said Tuesday that it's cutting about 1,400 jobs worldwide.
The cuts represent 5% of the Deerfield, Ill.-based company's non-manufacturing payroll.
“The reductions have occurred across Baxter's global operations, with no particular locations impacted more significantly,” a spokeswoman said in an email.
Baxter spun off Baxalta this summer, “and now we are aligning our infrastructure with our new status as a stand-alone medical products company to better support our business portfolio and advance our priorities,” the spokeswoman wrote.
She pointed out that “in northern Illinois in particular, our employee population has grown over the last few years, particularly when you aggregate with Baxalta, so even when you factor in these reductions, the combined Baxter and Baxalta employee count in Northern Illinois is likely to be up in 2015 on a year-over-year basis.”
Some of the jobs Baxter is cutting "are currently vacant or unfilled," according to the spokeswoman.
"Roughly two-thirds of the reductions are outside the United States," and the cuts are "really spread around the world fairly evenly," CEO Robert Parkinson said on a conference call this morning, according to a transcript.
Baxter today reported net income of $1 million. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 41 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The drug and medical device maker posted revenue of $2.49 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.46 billion.
Baxter stock was up 2% this afternoon.