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Invacare puts 'turnaround plan' in motion

August 22, 2014Liz Beaulieu, Editor

ELYRIA, Ohio - With a consent decree with the U.S. Food and Drug Administration (FDA) taking longer than it expected to resolve, Invacare has accelerated efforts to reduce its cost structure by reducing its workforce by 190 employees.It's a move that will save the company $14 million to $15 million annually on a pre-tax basis when fully instituted in 2015.“We need to find opportunities, as the consent decree continues, to restore profitability,” said Lara Mahoney, director of investor...

Consent Decree, Invacare, workforce reduction