Baxter Travenol after-tax charge to fourth quarter earnings
Executive Summary
Firm announced that cost-cutting measures to be implemented in the fourth quarter will result in an estimated $116 mil. after-tax charge.Cost-cutting efforts include closing of its Hays, Kansas plant, consolidation of overseas operations, reevaluation of the assets of its Med-Com training and education subsidiary and its Auto-Syringe subsidiary, which is also being restructured to become part of firm's hardware design and manufacturing organization