Labcorp Holdings Inc. provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests. It also provides specialty testing services comprising gene-based and esoteric testing; advanced tests target specific diseases; services related to anatomic pathology/oncology, cardiovascular disease, coagulation, diagnostic genetics, endocrinology, infectious disease, women's health, pharmacogenetics, parentage and donor testing, occupational testing services, medical drug monitoring services, chronic disease programs, and kidney stone prevention tests; and health and wellness services to employers and managed care organizations (MCOs). In addition, the company offers online and mobile applications that enable patients to check test results; online applications for providers, MCOs, and accountable care organizations; specimen collection services; and drug development, medical device, and companion diagnostic development solutions, as well as support for crop protection and chemical testing. It serves pharmaceutical, biotechnology, medical device, and diagnostics companies; and MCOs, employer plans, other health insurance providers, governmental agencies, physicians and other healthcare providers, hospitals and health systems, employers, patients and consumers, contract research organizations, crop protection and chemical companies, academic institutions, independent clinical laboratories, and retailers. The company was founded in 1995 is headquartered in Burlington, North Carolina.
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Labcorp Holdings Inc. has announced the closure of its Los Angeles site, resulting in the layoff of 73 employees. This decision reflects the company's ongoing restructuring efforts as it adapts to changing market conditions. The layoffs are effective immediately, impacting the workforce at the Los Angeles location. Labcorp's management has indicated that this move is part of a broader strategy to streamline operations and improve efficiency. The closure is expected to have significant implications for the affected employees and the local community.
Labcorp has announced that it will be cutting 83 jobs in Raritan, Somerset County, NJ, effective July 17, 2023. This decision reflects the company's ongoing adjustments in response to market conditions. The layoffs are part of a broader trend affecting various sectors, but specific reasons for the job cuts at Labcorp were not detailed in the announcement. The affected positions will contribute to a restructuring effort aimed at improving operational efficiency. This move underscores the challenges faced by companies in the current economic climate.
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