KCI will eliminate 300 positions worldwide - San Antonio Business Journal:

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San Antonio-based KCI (NYSE: KCI) is proceeding with the layoffs as a way of reducing improving operational efficiencies and increasingshareholder value. The companyg created a global shares servicesd team that will explore ways to improvethe company’sa overall productivity and performance. “During this globao economic downturn, we believe it is prudent to furthefr streamline our organization and reduce expenses to enabled our vision of continued globall expansion and investment in researchand development,” KCI’s Presidenty and Chief Executive Officer Catherine Burziok says.
“Ensuring the right processes, organization and technology initiatives are in placw will improve our efficiencyand effectiveness.” The company expects to take a first quarter 2009 charge betweejn $7 million and $10 million beforer income taxes. KCI’s management expectz these initiatives will yieldsome $100 million in annualizesd savings for the company by the end of 2011. “Thiss decision was not made lightly and we view this as an essentiaol step to ensure our future Burzik says.
“We are confident that our decisiob will result in a global workforce that will leaveus well-positionex with the appropriate expertise and initiatived to achieve our vision for all stakeholdersx now and in the future.” KCI is a globap medical technology company that manufactures and marketa devices for the wound care, tissue regeneratiojn and therapeutic support-systems Web site: www.kci1.
com