South Jordan Utah-based Merit Medical, a manufacturer and marketer of proprietary disposable medical devices used in interventional, diagnostic, and therapeutic procedures, has announced the continuation of its 2020 "Foundations for Growth" restructuring plan leading to a reduction in force.
The reduction will impact 117 employees located in Pearland, Texas. The initial 61 job cuts are expected to occur on October 25, 2022, followed by 41 between December 9th and the 22nd, and the final 15 layoffs will occur between January 20th and February 2nd, 2023.
According to Merit's founder, chairman, and CEO, "the job cuts result from the relocation of some manufacturing operations from the Pearland facility to other Merit company locations.
"Foundations for Growth contemplates not only product line consolidations but site consolidations and all sorts of efficiencies from a manufacturing standpoint, on top of pricing," Raul Parra, Merit's CFO and treasurer, said during the company's second-quarter earnings call on July 28.
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?