Friday August 14, 2020

Icon to restore staff pay as business recovers from virus

Clinical trials firm reported 10.8% drop in revenues for the three months to the end of June

Ian Guider

Markets Editor

@ianguider
26th July, 2020
Steve Cutler, chief executive of Icon, said that the firm is working with a number of companies on testing Covid-19 treatments

Icon, the Dublin-headquartered clinical trials company, is to restore pay for staff as business recovers from the Covid-19 pandemic.

The company, which employs 15,000 people, took an $18 million (€15.5 million) restructuring charge in the second quarter of the year as it cut costs to deal with Covid-19’s impact. As well as putting a freeze on hiring, the firm reduced contract employees and cut some staff salaries.

“These decisions were not taken lightly at that...

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