Quest Diagnostics Furloughs Staff and Makes Other Cost Cuts [TheStreet.com]
Quest Diagnostics Incorporated (DGX)
Last quest diagnostics incorporated earnings: 4/22 06:45 am
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Source: TheStreet.com
Quest Diagnostics(DGXGet ReportChief Executive Steve Rusckowski's pay will be reduced by 25% for the next 12 weeks. And the board of the Secaucus, N.J., diagnostic-testing provider will take the same cut over the same period.Quest exempt employees will also take a pay cut for 12 weeks, ranging from 20% for the most senior executives down to 5%, depending on level.Quest will furlough employees with diminished work who have "indicated interest to be at home."About 4,000 workers, or 9% of its employee base, have been furloughed.Quest will also suspend the its 401(k) match and other worker-compensation initiatives.It's one of the companies that makes the coronavirus-testing kits that are essential to fighting the pandemic,But the company said that the increase in its covid-19 testing has "not been nearly enough to offset the significant reductions we have seen to Quest's overall testing volumes." They'd declined more than 40% in the last two weeks of March.Quest has done 800,000 coronavir
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DGX
Earnings
- 10/22/24 - Beat
DGX
Sec Filings
- 11/7/24 - Form 4
- 10/30/24 - Form 4
- 10/28/24 - Form 144
- DGX's page on the SEC website