Parexel to Move or Cut 150 Jobs in Global Restructuring

Contract pharmaceutical researcher Parexel International plans to eliminate or move 150 jobs as part of a restructuring effort that will save it as much as $10 million a year going forward. Parexel said it would also close and combine some offices in the U.S. as it seeks to reduce costs and shift resources to faster-growing international markets. The moves will result in a one-time charge of between $30 million and $35 million, including as much as $27 million in charges tied to property leases it will abandon and $5 million in employee-severance costs.

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