NEW YORK (AP) — Health website operator WebMD Health Corp. plans to cut about 14 percent of its workforce as part of a push to reduce costs.
The New York company said Tuesday the cuts amount to about 250 positions, and it expects to reduce annual operating expenses by about $45 million. Most of the job cuts will take place by the end of the year, while some of the other cost-cutting measures will extend into the first three months of 2013.
WebMD said it will record a pre-tax restructuring charge of between $6 million and $8 million in the fourth quarter, mainly for severance pay and other costs related to "streamlining" its operations.
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