Parexels restructuring plan to simplify the organization will include eliminating an undisclosed amount of positions as the CRO looks to save on costs.
In a form 8-K filed with the SEC
on January 6, 2017, the contract research organization (CRO) announced its plan to restructure operations had been approved by the chairman and CEO and the corporate VP and interim CFO.
Per the SEC filing, the restructuring is part of a plan to improve the productivity and efficiency of the company, simplify the organization, and streamline decision-making, thereby enhancing client engagement.
The initiative is set to be company-wide.
Parexel is taking steps to reduce costs in parts of the business, a company representativ…