Brief: Retractable Technologies Announces Workforce Reduction

Retractable Technologies

27/03/2023 22:39

March 27 (Reuters) - Retractable Technologies Inc
 RVP.A :
    * RETRACTABLE TECHNOLOGIES, INC. ANNOUNCES WORKFORCE
REDUCTION
    * RETRACTABLE TECHNOLOGIES INC - REPORTS THAT IT HAS REDUCED
ITS
WORKFORCE BY APPROXIMATELY 22%
    * RETRACTABLE TECHNOLOGIES INC - REDUCTION WILL RESULT IN AN
OVERALL ANNUALIZED SAVINGS OF APPROXIMATELY $1.7 MILLION, OR 13%
IN ANNUALIZED PAYROLL EXPENSE
    * RETRACTABLE TECHNOLOGIES INC - SEPARATION COSTS ARE
EXPECTED TO
BE APPROXIMATELY $154 THOUSAND
    * RETRACTABLE TECHNOLOGIES INC - EXPECTS THAT IT WILL BE
ABLE TO
MEET ITS CURRENT LEVEL OF DOMESTIC PRODUCTION NEEDS AFTER
HEADCOUNT REDUCTION

Source text for Eikon:  ID:nBw6R8fpra 
Further company coverage:  RVP.A 

 ((Reuters.Briefs@thomsonreuters.com;))