Abbott to close Silicon Valley manufacturing facility at cost of 144 jobs

5Abbott ($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.”

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About Peter Coffaro 1102 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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