Cerner layoffs are on the way as the company looks to reduce its workforce.
Here’s what to know about the layoffs coming for Cerner (NASDAQ:CERN) employees.
- The company is laying off a total of 255 employees in the U.S.
- This has the company alerting employees about the layoffs today.
- Employees affected by the layoffs will be receiving severance pay.
- They also won’t be leaving immediately.
- Instead, their last day of work will be Nov. 5, 2019.
- The company also notes that it will continue to hire more employees.
- It says that these opportunities will be available to current employees.
- Cerner also points out that these layoffs are affecting employees of all levels.
- This includes some executives that will be part of the layoffs.
- Roughly half of the 255 employees being laid off will be from its offices in Kansas City.
- Cerner also mentions that it is laying off employees in the U.K. as well.
- However, the company doesn’t go into detail about these lay offs.
- Instead, it simply says that only a small number of employees are affected.
- The company currently employs about 14,000 people in the U.S. and 30,000 people around the world.
- The Cerner layoffs are part of the company’s effort to increase its operating margin.
- It wants to reach an operating margin of 20% in the fourth quarter of 2019 and 22.5% for the fourth quarter of 2020.
CERN stock was down slightly as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.