Abbott ($ABT) told FierceMedicalDevices that it will close its Redwood City, CA, manufacturing facility during the current quarter to improve the company’s competitiveness and “better support its business in an ever-changing environment.” The facility makes vascular devices.
California’s WARN report, which lists company layoffs, shows that 144 employees were let go on Dec. 7. The information comes courtesy of the Worker Adjustment and Retraining Notification Act of 1988, which requires companies to notify states of certain layoffs.
According to the Abbott spokesman, the announcement was communicated to employees in early 2014. There have been public warnings as well. Namely the discussion of restructuring plans in Abbott’s quarterly filings, which repeatedly state that management “approved plans to streamline operations in order to reduce costs and improve efficiencies in various Abbott businesses.”