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BRIEF-Labcorp says application of the initiative to covance drug development segment will consist of 2 phases

April 25 Laboratory Corporation Of America Holdings:

* Labcorp says application of the initiative to covance drug development segment will consist of two phases implemented over three years - sec filing

* Labcorp says first phase intended to better align cdd's resources with near-term outlook

* Labcorp says in connection with the implementation of the first phase, on april 24, 2017, co committed to carry out a reduction in workforce in 2017

* Labcorp says first phase is expected to generate pre-tax savings of about $20 million in 2017 and about $45 million on annualized basis thereafter

* Labcorp says second phase will focus on long-term structural changes designed to create a more efficient business model for cdd Source text - bit.ly/2q3Vohr Further company coverage:

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