St, Jude (STJ) Ticks Higher; Will Realign Business, Cut 300 Jobs
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St, Jude (NYSE: STJ) shares are ticking higher Thursday following the recent announcement of a business alignment. In the announcement, St. Jude said it would realign into two business segments and 300 positions would be eliminated.
The company estimates that as a result of the organizational changes announced today, it will be able to reduce pre-tax operating expenses by approximately $50-$60 million annually beginning in 2013.
Shares are down 0.9 percent on the session, but moving off of lows.
The company estimates that as a result of the organizational changes announced today, it will be able to reduce pre-tax operating expenses by approximately $50-$60 million annually beginning in 2013.
Shares are down 0.9 percent on the session, but moving off of lows.
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