Covidien plc (COV) Cuts Jobs After Newport Medical Buy
8/1/2012 8:13:21 AM
Covidien (NYSE:COV) made a small round of job cuts in association with the medical device company's acquisition of Newport Medical Instruments. Earlier this month, the company let go of about 24 employees in its respiratory & monitoring solutions unit, according to a company spokesman. The cuts came mostly from sales and sales support and were aimed at reducing some redundancies connected to rolling Newport's business into the existing Covidien unit. Mansfield, Mass.-based Covidien acquired Newport in March in a deal worth $108 million. The Costa Mesa, Calif.-based medical device company makes ventilator systems with products on the market in the U.S. and more than 115 countries worldwide.