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Covidien will begin restructuring program

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By AP
29 September 2008 @ 08:30 am EST

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NEW YORK - Covidien Ltd., a medical-device maker and diversified health care company based in Bermuda, said Monday it plans to restructure operations in an effort to save $50 million to $75 million annually.

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The program will cost about $200 million, beginning in the first quarter of fiscal 2009. It includes projects in all four of its business segments as well as at a corporate level, the company said. Details of the program were not disclosed.

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