Cardinal (Health) Grounded by Job Cuts (4,200 jobs)

[UpInArms]

http://www.thestreet.com/_googlen/stocks/healthcare/10198726.html?cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA

Cardinal Health (CAH:NYSE - news - research) was grounded once again Monday after the struggling health care supplier laid out plans to cut 4,200 jobs.

The Dublin, Ohio, company said it expects earnings for the first half to fall 15%, excluding restructuring charges. Cardinal expects to take charges of between $230 million and $270 million, including some $75 million in impaired asset writedowns.

"We are bringing the company together by integrating externally to align our businesses for customers and internally to become even more efficient," said CEO Robert D. Walter. "Both actions -- integrating externally and integrating internally -- will help us deliver even more value to customers and improve returns to shareholders."

<snip>

The past year has been full of turmoil for the drug distributor. In September, the company set plans to restate past financial reports covering nearly four years, while trimming earnings guidance.

...more...

[Megahurtz]

1. More people losing jobs

because of the GOP. Pretty soon there will be more homeless people out on the streets.

[mhr]

2. Seems That The Bush Jobs Machine Is Gaining Steam!

eom

[hatrack]

3. "The Economy Is Strong, And Getting Stronger" - Bush 3:16

Just keep saying it and eventually SOMEBODY'S going to start believing it.

[Mari333]

4. Oh but them gay folks cant get married! Thats all that matters

even if gramma does have to eat ALPO for dinner.

[grilled onions]

5. "bringing them together"...

at the unemployment office!