Abbott Laboratories (NYSE:ABT) got the blood flowing for its stent business last year, but the pharma side is causing some bloodletting as Abbott reveald plans to lay off about 2 percent of its global workforce.
The 1,900 job cuts to the Chicago-area medical products conglomerate’s pharmaceuticals division are the result of “changes in the healthcare industry, including U.S. Health Care Reform and the challenging regulatory environment,” according to company officials.