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PerkinElmer Cuts 243 from Workforce During Past Two Quarters

NEW YORK (GenomeWeb News) – PerkinElmer reduced its headcount by 243 as part of restructuring efforts during the past two completed quarters, the Waltham, Mass.-based firm disclosed in its quarterly earnings report this week.

In its Form 10Q filed with the US Securities and Exchange Commission on Tuesday, PerkinElmer said that during its fourth quarter 2011 and first quarter 2012, management approved plans to realign operations and shift resources to higher growth geographic regions and end markets, resulting in a reduction in headcount by 114 employees in Q4 2011 and 129 employees in Q1 2012.

In Q4 2011, the firm took a $2.3 million pre-tax restructuring charge in its Human Health segment related to a workforce reduction from reorganization activities. It also took a $4.6 million pre-tax restructuring charge in its Environmental Health segment related to a workforce reduction and the closure of excess facility space.

In Q1 2012, it recorded a pre-tax restructuring reversal of $100,000 related to its fourth-quarter 2011 restructuring plan because of reduced estimated costs associated with the closure of an excess facility in the Environmental Health segment, PerkinElmer said in its SEC document.

As part of its Q1 2012 restructuring effort, PerkinElmer took a $5.3 million pre-tax charge in Human Health related to the workforce reduction and a $400,000 pre-tax charge in Environmental Health related to a workforce reduction and the closure of excess facility space.

The company two weeks ago reported 14 percent revenue growth year over year for its first quarter.

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