MedQuist announces job cuts

AuntMinnie.com staff writers
Dec 11, 2007

Speech recognition firm MedQuist is cutting 10% of its nonmedical transcriptionist workforce in a move to reduce operating expenses by between $10 million and $11 million in 2008.

In a December 5 form 8-K filing with the U.S. Securities and Exchange Commission, MedQuist president and CEO Howard Hoffmann described the restructuring as an "important step in our corporate rebuilding process to improve our operating margins and profitability."

The Mount Laurel, NJ-based firm has approximately 6,000 medical transcriptionists and provides transcription and documentation services to more than 1,500 healthcare entities.

Related Reading

Philips reiterates its wish to sell MedQuist, November 2, 2007

Philips to acquire Raytel, October 4, 2007

MedQuist explores strategic alternatives, July 12, 2007

Philips reviewing MedQuist stake, July 10, 2007

MedQuist files overdue SEC reports, July 6, 2007

Copyright © 2007 AuntMinnie.com

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