Baxter International to lay off 1,400

Posted online October 28, 2015 | 11:42 am

Medical products company Baxter International Inc. (NYSE: BAX) plans to cut 1,400 jobs by the end of the year.

The cuts amount to about 5 percent of the company's nonmanufacturing headcount.

The announcement comes after Baxter spun off its pharmaceutical company, Baxalta (NYSE: BXLT), and absorbed costs in the process. It also reported a sales decrease of 8 percent in the third quarter.

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