Tag: Layoffs
Philips lays off employees ‘to start turning company around’
October 24, 2022HME News Staff
AMSTERDAM – Philips will reduce its workforce by about 4,000 roles globally, the company announced as part of its third quarter financial results.
The immediate restructuring actions will result in EUR 300 million in charges in the coming quarters but will save EUR 300 million annually.
“My immediate priority is to improve execution so that we can start rebuilding the trust of patients, consumers and customers, as well as shareholders and other stakeholders,” stated Roy Jakobs,...
Invacare reduces headcounts
May 6, 2022HME News Staff
ELYRIA, Ohio – Invacare is streamlining its operations in the United States, primarily related to headcount reductions, to improve its cost structure, according to a May 4 filing with the U.S. Securities and Exchange Commission.
As a result, the company anticipates annual pre-tax savings of about $2.8 million, with about $1.9 million to be realized in 2022. It will incur restructuring charges of $800,000 and expects to make cash payments in the same amount, primarily related to...
Invacare layoffs shift to Europe
November 27, 2018HME News Staff
ELYRIA, Ohio - Invacare plans to reduce its workforce in Europe by about 50 employees, according to a filing with the Securities and Exchange Commission. The move is part of the company's long-term plan to achieve $12.5 million of operating margin improvement from cost reduction activities specifically in Europe. Invacare expects to incur total pre-tax cash restructuring charges, primarily related to severance and transition assistance, of about $900,000, which will be expensed in the fourth quarter...
Invacare reduces workforce
December 8, 2017HME News Staff
ELYRIA, Ohio - Invacare will reduce its workforce by about 110 employees to generate $8.5 million in pre-tax savings, the company announced Dec. 7.The move, which affects employees in North America, is part of a multi-year strategic plan to transforms Invacare into a more clinically focused company, says Matthew Monaghan, chairman, president and CEO.“This reduction in force, while difficult, is an essential part of the second phase of our transformation toward becoming a more sustainably profitable,...
Invacare reduces workforce again
February 1, 2017HME News Staff
ELYRIA, Ohio - Invacare will reduce its workforce by about 100 associates, a move that will generate about $6.6 million annually in pre-tax savings, the company announced late on Jan. 31.The reduction in workforce is necessary to realign Invacare's infrastructure, says Matt Monaghan, chairman, president and CEO, in the wake of efforts in 2016 to recruit associates to the North America commercial team as part of its transformation from a generalist DME to a more clinical company.“These changes,...
Rotech announces layoffs at billing center
August 14, 2015Liz Beaulieu, Editor
ORLANDO, Fla. - Despite “momentum” from a string of recent acquisitions, Rotech Healthcare plans to lay off 90 employees by Oct. 9.
The provider, one of four “nationals” in the HME industry, filed a Worker Adjustment and Retraining Notification with the state on Aug. 12. The layoffs will take place at Rotech's 3600 Vineland Road location, a billing center.
“We are going from five (billing centers) to four,” said President and CEO Tim Pigg in an email...
Rotech announces layoffs
August 13, 2015HME News Staff
ORLANDO, Fla. - Despite “momentum” from a string of acquisitions, Rotech Healthcare plans to lay off 90 employees by Oct. 9.
The provider, one of four “nationals” in the HME industry, filed a Worker Adjustment and Retraining Notification with the state on Aug. 12, according to news reports.
The layoffs will take place at Rotech's 3600 Vineland Road location, a billing center.
Rotech has a total of 3,500 employees in 450 locations in 48 states.
Since late last...
Audits take toll on contract supplier
March 7, 2014Theresa Flaherty, Managing Editor
FLETCHER, N.C. - All-States Medical Supply (ASM) in February laid off eight employees and company execs placed the blame squarely on audits.“We've got more than 15% of our cash flow held up in audits,” said Marcus Suess, CEO. “That's more than a 200% increase from what we've ever experienced.”The timing couldn't have been worse: The audits surged in November—about 800 requests for documentation in three weeks—several months after the July 1 implementation of the...
Layoffs at Invacare hit 236
July 30, 2013HME News Staff
ELYRIA, Ohio - Invacare has laid off an additional 25 workers at its Taylor Street manufacturing facility. It's the third layoff at the facility: In late 2012, Invacare laid off 143 workers; and in April of this year, it laid off 68 workers. The reason: A consent decree with the U.S. Food and Drug Administration (FDA) has limited production at the facility and, therefore, dampened sales. “It's something that we continue to evaluate as we work through the consent decree with the FDA,”...
Sales suffer at Invacare
April 9, 2013Liz Beaulieu, Editor
ELYRIA, Ohio - In a big sign that an agreement with the Food and Drug Administration (FDA) is dampening sales, Invacare has announced that it has laid off an additional 68 employees at its manufacturing facility on Taylor Street.
Sales have been impacted by a provision in the agreement that requires providers to document that a wheelchair or seating system made specifically by Invacare is medically necessary for a particular condition.
“We didn't know what to expect and now, with...