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Wyeth charge

This article was originally published in The Tan Sheet

Executive Summary

Company records fourth quarter $340.8 mil. pre-tax charge for restructuring and related asset impairments "to recognize the costs of closing certain manufacturing facilities and two research facilities, as well as reducing headcount at the company's facilities," 1Wyeth press release says. Facilities' closure, reduction of sales, administrative positions affects approximately 3,150 employees worldwide, according to Wyeth. In October, company announced it would be "reviewing its entire cost base" and making headcount reductions...
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