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Hologic Takes Charges of $51.7M for Headcount Reductions

NEW YORK(GenomeWeb) – Hologic said in a regulatory filing that it took charges to its financials of $51.7 million for Fiscal Year 2014, primarily for headcount reductions.

In a Form 10-K filed on Thursday with the US Securities and Exchange Commission, the company said that the charges were related to several steps it took in order to save costs, including cost-containment steps implemented in Q1 FY 2014 that resulted in layoffs. Additionally, in the second, third, and fourth quarters, Hologic terminated some employees at its HiTec Imaging operation in Germany and terminated certain executives and employees on a worldwide basis.

In 2013, the firm recorded a $32.8 million charge related to similar actions, it said.

Earlier this month, Hologic said that its revenues for FY 2014, which ended on Sept. 27, were up almost 2 percent to $2.53 billion.