Invacare plans 600 layoffs over 3 years
ELYRIA, Ohio - In an effort to counter Medicare reimbursement cuts for some of its bread-and-butter products, including power wheelchairs and oxygen equipment, Invacare unveiled a plan last month to cut costs by about $30 million over the next few years. During this time, the company expects a global reduction of at least 600 positions and to exit a number of its manufacturing operations worldwide. During 2006, Invacare will eliminate approximately 300 jobs. The move will save the company about $8 million a year, Invacare stated last month.