LabCorp (NYSE:LH) is laying off more than 200 people at two Southern California subsidiaries.
A filing with the California Employment Development Department shows that the Burlington-based laboratory services and diagnostics company is laying off 156 workers in Irvine, the location of the company’s Integrated Genetics unit. The filings also show LabCorp has laid off 45 workers at its National Genetics Institute unit in Los Angeles.
Integrated Genetics focuses on genetic and cytogenetic tests. The layoffs at Integrated Genetics will start October 19 and continue through the end of the year.
National Genetics Institute, or NGI, develops tests to detect pathogens in biologic products. The NGI layoffs were effective May 27.
LabCorp has made multiple acquisitions over the years that have diversified its offerings and added new areas of expertise. But as the company has grown and diversified it has also cut some of the people who joined LabCorp via acquisitions. In the company’s release of second quarter financial results, LabCorp said it recorded net restructuring charges of $14.1 million — $10.1 million in severance and personnel costs and $6.3 million in costs associated with facility closures and integration.
