Brief: Retractable Technologies Announces Reduction In Workforce

Retractable Technologies

06/06/2022 21:26

June 6 (Reuters) - Retractable Technologies Inc  RVP.A :
    * RETRACTABLE TECHNOLOGIES, INC. ANNOUNCES REDUCTION IN
WORKFORCE
    * RETRACTABLE TECHNOLOGIES INC - REDUCED ITS WORKFORCE BY
APPROXIMATELY 16%
    * RETRACTABLE TECHNOLOGIES - REDUCTION TO RESULT IN OVERALL
ANNUALIZED SAVINGS OF ABOUT $2.1 MILLION DOLLARS, OR 13% IN
ANNUAL PAYROLL EXPENSE
    * RETRACTABLE TECHNOLOGIES INC - STAFF REDUCTION PRIMARILY
AFFECTS
ITS PRODUCTION, OPERATIONS AND LOGISTICS DEPARTMENTS
    * RETRACTABLE TECHNOLOGIES INC - EXPECTS THAT IT WILL BE
ABLE TO
MAINTAIN ITS CURRENT LEVEL OF DOMESTIC PRODUCTION AFTER
HEADCOUNT REDUCTION
    * RETRACTABLE TECHNOLOGIES - SEPARATION COSTS ARE EXPECTED
TO BE
ABOUT $200 THOUSAND

Source text for Eikon:  ID:nBw5QdJC4a 
Further company coverage:  RVP.A 

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