Baxter to cut 1,400 jobs in wake of Baxalta spinoff

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Baxter International, the Deerfield-based maker of hospital and renal products, saw third-quarter profits drop sharply — largely due to the costs of spinning off its pharmaceutical operations — and said it will cut about 1,400 jobs, or about 5 percent of non-manufacturing payroll, by the end of the year.

The company, which employs about 4,800 in northern Illinois, did not say how many jobs would be lost here, except to say “no particular location” would be disproportionately affected. Using the company’s math, trimming the workforce by 5 percent here would translate into about 240 jobs.

About two-thirds of the job cuts will take place outside the United States. About 70 percent of the cuts represent existing jobs, and 30 percent represent open positions that will not be filled. The cuts will save Baxter about $130 million a year.

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About Peter Coffaro 1436 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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