September 2, 2009 / 11:51 AM / 9 years ago

UPDATE 1-Danaher speeds up restructuring, to cut more jobs

Sept 2 (Reuters) - Diversified manufacturer Danaher Corp (DHR.N) said it plans to cut more jobs as it accelerates its restructuring activities, eliminating a total of 3,300 positions this year.

The company now expects restructuring costs to total $225 million to $250 million for 2009, up from its prior estimate of $150 million to $170 million.

It expects to save about $220 million annually through the restructuring actions, which also includes closing of 30 facilities.

Danaher also said it was optimistic about the continuing signs of stabilization that it has seen during the first two months of the third quarter.

“We are also encouraged with the sequential improvement in order activity in some of our businesses,” CEO H. Lawrence Culp said in a statement.

Separately, Danaher said it would buy life sciences instrumentation businesses from MDS Inc MDS.TO and Life Technologies Corp (LIFE.O) for an aggregate price of $1.1 billion. [ID:nWNAB5958]

Shares of Danaher closed at $60.42 Tuesday on the New York Stock Exchange. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Deepak Kannan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below