C.R. Bard has finally revealed the number of jobs it will cut following an announcement in its Q4 earnings. The company, which manufactures vascular, urology, oncology and surgical specialty devices, plans to axe 200 workers from its plant in Queensbury, NY; that's about 20 percent of Bard's 960 workers. About 60 jobs are temporary positions, and many of the others are hourly wage jobs. Production jobs will be the most hard-hit.
Bard took a $20 million charge in Q4, with most of that coming from severance packages. CEO Timothy Ring said in a conference call last month that the cuts are part of the company's plan to reallocate resources to fast-growing segments of the business. "What you're seeing here--and I don't think we're unique in this respect--we're going to be redeploying resources to the growth areas around the globe," noted Ring, as reported by the Post Star. "And those areas that are in the businesses that are a little bit slower, we're going to pull resources out."
- here's the report