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Shift to R&D prompts Philips Healthcare to shutter manufacturing at Cleveland imaging plant

February 12, 2018 By Brad Perriello Leave a Comment

The healthcare business at Royal Philips (NYSE:PHG) said last week that it plans to shutter manufacturing operations at a Cleveland plant that makes computed tomography scanners as part of a $600 million R&D initiative. The Dutch healthcare giant said Feb. 9 that it also plans to invest in a service training program in Cleveland. Manufacturing […]

Filed Under: Imaging, Wall Street Beat Tagged With: Layoffs, royalphilips

Another round of layoffs ahead for Invacare

December 8, 2017 By Brad Perriello Leave a Comment

Invacare (NYSE:IVC) said yesterday that it plans to lay off about 2.4% of its workforce, with all of the cuts coming in North America. The Elyria, Ohio-based company said it plans to pare 110 positions, aiming to create $8.5 million in annual pre-tax savings as part of a “strategic transformation.” Invacare reported 4,600 employees worldwide as of […]

Filed Under: Hospital Care Tagged With: Invacare, Layoffs

Medtronic, Halyard Health’s Corpak to lay off 266 in Illinois

August 15, 2017 By Brad Perriello Leave a Comment

Medtronic (NYSE:MDT) and Halyard Health (NYSE:HYH) subsidiary Corpak MedSystems are planning to lay off a collective 266 workers in Illinois as they each close a plant there. Fridley, Minn.-based Medtronic told the Illinois Commerce Dept. that it’s shuttering a distribution facility in Joliet, meaning job cuts for the 185 workers employed there. The layoffs are slated to begin Sept. […]

Filed Under: Wall Street Beat Tagged With: Corpak Medsystems Inc., Layoffs, Medtronic

Report: Medtronic misses Memphis jobs target despite tax break pledge

June 27, 2017 By Brad Perriello Leave a Comment

Medtronic (NYSE:MDT) has reportedly increased its workforce at its spine business in Memphis by only 14.3%, despite pledging 11 years ago to a 49% increase to win $20 million in local tax breaks, but far exceeded investment and wage commitments. Back in 2006, Fridley, Minn.-based Medtronic promised to boost its local employment from 1,225 workers […]

Filed Under: Wall Street Beat Tagged With: Layoffs, Medtronic

Report: Layoffs ahead for Medtronic Spine in Memphis

May 15, 2017 By Brad Perriello Leave a Comment

Medtronic (NYSE:MDT) is reportedly planning an unspecified number of layoffs among the 1,300 workers it employs at its Medtronic Spine operation in Memphis. “Medtronic operates in a highly competitive environment, and transformation is an inherent part of our business. We continually adjust as necessary to deliver operational and functional excellence, drive growth, and strengthen our […]

Filed Under: Spinal, Wall Street Beat Tagged With: Layoffs, Medtronic

Avinger to lay off a third of workforce

April 11, 2017 By Brad Perriello Leave a Comment

Avinger (NSDQ:AVGR) said yesterday that it plans to lay off a third of its workforce and examine its “strategic alternatives” as it focuses on its Pantheris peripheral artery device. The layoffs, affecting 131 workers, are slated to be complete this week, the Redwood City, Calif.-based company said, including cutting its field sales force by nearly half, from […]

Filed Under: Vascular, Wall Street Beat Tagged With: Avinger, Layoffs, peripheral

Report: Stryker Instruments lays off 50 in Michigan

April 4, 2017 By Brad Perriello Leave a Comment

A Stryker (NYSE:SYK) division in its home base of Kalamazoo, Mich., reportedly laid off about 50 workers, even as it’s planning a major expansion at another facility nearby. Stryker Instruments, which last month won a tax break from Portage, Mich., for a $154 million, 485,000-square-foot R&D facility there, confirmed the layoffs in Kalamazoo last week to a […]

Filed Under: Orthopedics, Wall Street Beat Tagged With: Layoffs

Exactech deals spine biz to ChoiceSpine

February 1, 2017 By Brad Perriello Leave a Comment

Exactech (NSDQ:EXAC) said it sold off its spine business yesterday to ChoiceSpine for an undisclosed amount and plans to restructure its biologics business. “For nearly a decade, Exactech has driven innovations in spinal surgery and we are pleased to have made meaningful contributions to patient care. We are confident the transfer of these products to ChoiceSpine will […]

Filed Under: Mergers & Acquisitions, Spinal, Wall Street Beat Tagged With: ChoiceSpine, Exactech Inc., Layoffs

CareFusion lays off 128 in California

October 19, 2016 By Sarah Faulkner Leave a Comment

Becton Dickinson (NYSE:BDX) subsidiary CareFusion is laying off workers in California, according to a Worker Adjustment & Retraining Notification Act notice. CareFusion, which this month landed a $100 million contract with the U.S. Defense Dept. to develop an automated drug dispensing system, will cut 128 jobs in San Diego, according to the October notice. Earlier this year, the FDA issued […]

Filed Under: Blog Tagged With: bectondickinson, CareFusion Corp., Layoffs

Alphatec lays off 20%, CFO O’Neill resigns

October 7, 2016 By Brad Perriello Leave a Comment

Alphatec (NSDQ:ATEC) said this week that it laid of 20% of its workforce and announced the resignation of its CFO & treasurer, Michael O’Neill, effective Oct. 5. The Carlsbad, Calif.-based company reported 430 employees as of Dec. 31, 2015, which would mean job cuts for about 86 workers. Alphatec said it’s making the move as part of its plan […]

Filed Under: Orthopedics, Spinal, Wall Street Beat Tagged With: Alphatec, Layoffs, personnel-moves

William Demant moves hearing aid production from U.S., Denmark to Poland, Mexico

August 17, 2016 By Brad Perriello Leave a Comment

William Demant (CPH:WDH) plans to shift production from the U.S. and Denmark to Poland and Mexico to cut costs by around $30 million (DKK200 million) a year, the Danish hearing aid maker said today. A plant in Eagan, Minn., has already closed and operations in Thisted, Denmark, are slated to be moved to Poland before the end of 2018, meaning job cuts for […]

Filed Under: MassDevice Earnings Roundup, Wall Street Beat Tagged With: Hearing, Layoffs, William Demant Holding

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