CareFusion Cuts 700 Employees

San Diego-based CareFusion, a manufacturer of medical devices including pumps, patient identification systems, ventilators, surgical instruments, and more, said last night that it is cutting 700 jobs in a company-wide restructuring. The firm said the move is an attempt to "right size" the company, and is expected to save the firm more than $100M in annual savings. CareFusion said the move will eliminate layers of management and reduce the size of its supporting infrastructure. The cuts came despite an increase of 19 percent in its revenues for the fourth quarter, to around $1 billion.