FEBRUARY 10, 2023 — UP TO 3,000 EMPLOYEES TARGETED
The company has affirmed it is continuing with its previously outlined restructuring plan, and an additional “cost reduction program.”
José Almeida, chairman, president and chief executive officer. noted, "Ongoing macroeconomic challenges and supply chain headwinds continue to weigh on business performance, underscoring the need for decisive action to create value for the patients, shareholders, and other stakeholder communities that rely on us. I am confident that the plans we announced last month to spin off a new kidney care company and implement a new operating model for our remaining businesses will enhance the potential for growth and innovation across both entities."
“In response to the significant macroeconomic challenges Baxter has experienced over the last two years, the company is in the process of executing a cost reduction program in parallel with its operating model redesign that is expected to be finalized later this quarter. This initiative and additional actions the company has undertaken to enhance performance are expected to deliver more than $300 million in total savings during 2023. These actions are currently expected to result in a global workforce reduction of less than 5%. “
Baxter is planning to spin off the kidney care segment, previously known as Hillrom—pharmaceuticals and kidney care into a standalone public company within the next 12 to 18 months. The company is also in the process of conducting a strategic review of its biopharma solutions business—housed within the pharmaceuticals segment—which could potentially culminate in a sale of the business. Baxter is also in the process of selling its 645,688-square-foot headquarters in Deerfield, Illinois.
SEPTEMBER 13, 2018 — Original post…
Deerfield, Illinois-based Baxter International, Fortune 500 healthcare company, has announced that it will be laying off 131 workers in its Medina, New York facility.
It will be transitioning its repair and maintenance operations for its Spectrum infusion pump to another Baxter facility in Illinois. The company will continue to manufacture its Spectrum infusion pump at the Medina facility.
According to a company spokesperson, the medical device company’s decision was based on a routine operational review. In corporate-speak, “The decision follows an analysis of how best to meet patient needs and ensure timely supply for customers. We expect to complete this transition in the first quarter of 2019. In the meantime, we recognize that these decisions are difficult for individuals who are impacted.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?