ELYRIA, OH (WOIO) - Invacare, an Elyria-based healthcare company, announced today that they will be laying off 150 employees worldwide, and 40 temporary associates. 60 of them will be from their Elyria-North Ridgeville offices.
The layoffs are a part of a restructuring program that hopes to save $14-$15 million. They will be fully implemented by 2015.
Invacare released the following statement in a press release:
''Invacare is committed to improving free cash flow(a) and restoring profitability in the North America/HME and Asia/Pacific businesses. While the decision to downsize our workforce is extremely difficult, it is a necessary step toward achieving these objectives in light of our financial results for the first six months of 2014 and the slow sales start to the third quarter,'' said Robert K. Gudbranson, Invacare interim president and chief executive officer. ''All of our associates, including those affected by this restructuring, have been committed to Invacare. As always, we will provide support to our impacted associates during this transition period.''
As of June 30, the company employed 5,400 workers. Invacare manufactures and distributes home and long-term medical care products.
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