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Retractable Technologies downsizes workforce

June 8, 2022 By Danielle Kirsh

Retractable TechnologiesRetractable Technologies this week announced that it has reduced its workforce by 16% due to the completion of its facility expansion efforts — and the completion of U.S. government orders related to COVID-19 vaccines.

The staff reduction will affect the Little Elm, Texas-based company’s production, operations and logistics departments. Retractable Technologies said in an SEC filing that there will be an overall annualized savings of approximately $2.1 million, or 13% in annual payroll expense. Separation costs are expected to be approximately $200,000.

Get the full story on our sister site, MassDevice.

Filed Under: Catheters Tagged With: Retractable Technologies

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