ELYRIA — More jobs were cut Tuesday at Invacare Corp. as the company continues to shift from a one-stop shop manufacturer of medical equipment to a maker of clinically complex equipment and power wheelchairs.
The Elyria-based company announced Tuesday it reduced 100 jobs across North America including several positions at its Elyria and North Ridgeville campus. Company spokeswoman Lara Mahoney would not quantify the number of local jobs lost, but said as it is the company’s largest location, the cuts were proportionate.
Mahoney said Invacare continues to employ about 700 at its Elyria-North Ridgeville campus.
The cuts were across different departments and align with previously announced plans to retool. About 40 office-level associates across the country were let go in October, with many from the Elyria and North Ridgeville campus.
“Invacare continues to make progress with our transformation plan,” Matthew Monaghan, chairman, president and CEO, said in a statement. “After investing in and reorienting the North America commercial organization throughout 2016, now we are focusing on realigning our infrastructure. This will include initiatives that streamline our operations, improve our processes and remove complexity and cost from our business. These changes, while difficult, are an essential part of our transition to becoming a more sustainably profitable, growing business.”
Invacare is expected to generate about $6.6 million in annualized pre-tax savings with this reduction plan.
Mahoney said Invacare continues to add jobs in commercial sales, research and development, marketing and engineering — positions it will need as it streamlines its focus.
Invacare’s Taylor Street facility will continue to manufacture high-end customized wheelchairs often used by patients with advanced needs.
“We are reshaping our workforce to align with our strategic plan,” Mahoney said. “We have a lot of really strong clinically complex products that will be our focus. As our business changes, the infrastructure has to change, too.”
Last year, Invacare shed its line of single-use products like canes, crutches, walkers and bath chairs as the products no longer fits within the company’s strategy to focus on solutions that bring greater benefits for clinically complex conditions and post-acute care. By focusing more on product categories that can make a difference in complex cases, Invacare said it can better position the company for growth.
Mahoney said the company continues to work through the process outlined in a 2012 consent decree with the U.S. Food and Drug Administration.
Invacare is a publically traded company listed as IVC on the New York Stock Exchange. Shares closed Tuesday at $11.50, up 15 cents from the day’s start.
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