Top officials with Laboratory Corp. of America announced plans Friday to cut at least $250 million in costs during the next three years, with most of that coming from a long-term reworking of its business process model dubbed Project LaunchPad.
The announcement of the cost-cutting efforts came a day after the Burlington-based health care diagnostics company completed its $6.2 billion purchase of Covance, a Princeton, N.J.-based drug development services company.
About $100 million of the savings will come from “synergies from business optimization, corporate overhead and purchasing and logistics,” according to the company.
Help employers find you! Check out all the jobs and post your resume.
