Parexel lays off US workers in restructuring

Contract drug researcher Parexel will spend up to $35 million to restructure, laying off or relocating 150 workers. COO Carl Spalding will retire at the end of June. Parexel officials says the restructuring was triggered by a change in the "geographic mix" of the business. The company is downsizing in the US as it expands and adds new workers abroad. Parexel expects to have a net increase in employment by the end of this quarter.

- read this article from the AP for more on the restructuring