Zimmer’s cash-saving scheme begins with Statesville site closure
Orthopaedics Business News
Zimmer has put the wheels in motion regarding its plan to close its operations in Statesville, NC as part of a restructuring of its manufacturing facilities.
Warsaw, IN-based Zimmer has filed a notice with the North Carolina Department of Commerce of its impending plans, with the first redundancies widely expected to take place in October. The phase-out of the Statesville plant will be completed in March 2012. It is not clear how many Zimmer employees at the plant will lose their jobs, but the site currently employs around 125 people.
The Statesville facility was opened in 1980 and makes tourniquet cuffs, traction devices, slings and braces. The closure is part of Zimmer’s “global restructuring and transformation initiatives” that were unveiled in January this year. The Statesville site closure is part of this strategy that aims to save over US$100 million for the company, which looks set to lose its title of world’s largest orthopaedic company to DePuy by the end of the year. The company has also said it will be “reducing management layers and consolidating global sourcing to drive vendor cost reduction”. This could well mean that in the near future, Zimmer could be axing non-essential executive positions from its Warsaw headquarters, and perhaps even terminating deals it has with component suppliers and distributors, as it strives to save that US$100 million.
thank you to Sophie Bracken, editor of Orthopaedics Business News for providing this article.
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