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Major pharmaceutical companies announce big layoffs

The process of closing down facilities and making workers redundant has relates to CR Bard and Abbott who have operations in Minnesota and California.

CR Bard (more commonly called “Bard”) is a multinational developer, manufacturer, and producer of medical technologies in the fields of vascular, urology, oncology, and surgical specialties. Abbott Laboratories produces branded generic pharmaceuticals, medical devices, diagnostics, and nutrition products. In 2014, Abbot’s revenue was $20.25 billion.

Bard is planning to shut down its Stewartville facility in 2016. This will lead to the loss of 185 jobs. Bard purchased the plant in 2013 from Rochester Medical Corp., for $262 million.

According to the Rochester Post-Bulletin, Bard stated it made this decision “after a thorough review and careful consideration…we understand that our employees are directly impacted by this decision. We are committed to treating them fairly and will respect, and we will support them during this transition.”

Abbot is aiming to close down its Redwood City plant, shedding hundreds of jobs. The reason for the closure, according to Abbott, is to maintain the the company’s “competitiveness and better support its business in an ever-changing environment. The facility produces vascular devices which will be produced in other facilities in our global manufacturing network.”

Overall, Qmed reports, medical technology jobs are in decline in the U.S. with much company’s setting up cheaper operations in Central and South America. The chief reason is due to lower labor costs; lower environmental standards; and tax breaks.

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Written By

Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news. Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.

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