Wright Medical to lay off 80

LSRUNQI

Wright Medical to lay off 80
Tuesday, September 20, 2011

$ G$ x; O8 w9 |" |Arlington, TN - Wright Medical Group will lay off 80 employees as part of a restructuring plan. The Arlington-based medical device manufacturer also announced it has voluntarily extended its deferred prosecution agreement with the federal government for 12 months. The restructuring plan will reduce spending, streamline the company’s international operations and product portfolio and review its research and development projects. The company said it had already notified affected employees of the change and “has taken steps to ensure a smooth transition.” Overall, the cuts will reduce Wright’s total workforce of more than 1,300 by 6%, according to the company. The first phase of the plan is expected to be completed in the next nine months, the company said. The cuts will come “across the business geographically and functionally” but would not impact the company’s sales force, said Lance Berry, Wright chief financial officer. -