Baxter International, the Deerfield-based maker of hospital and renal products, saw third-quarter profits drop sharply — largely due to the costs of spinning off its pharmaceutical operations — and said it will cut about 1,400 jobs, or about 5 percent of non-manufacturing payroll, by the end of the year.
The company, which employs about 4,800 in northern Illinois, did not say how many jobs would be lost here, except to say “no particular location” would be disproportionately affected. Using the company’s math, trimming the workforce by 5 percent here would translate into about 240 jobs.
About two-thirds of the job cuts will take place outside the United States. About 70 percent of the cuts represent existing jobs, and 30 percent represent open positions that will not be filled. The cuts will save Baxter about $130 million a year.