A Medical Device Daily
Orthopedic device maker Zimmer Holdings (Warsaw, Indiana), reported plans to cut an undisclosed number of jobs around the world.
The company said that less than 5% of the work force is affected, but declined to provide the specific number of jobs to be eliminated. Zimmer did say it plans to lay off more than 100 employees at its Warsaw plant.
The company said the cuts at its Warsaw plant are among "modest changes" in its worldwide work force that include eliminating some positions and hiring in other areas "to support strategic priorities."
The company employs about 2,800 in Warsaw, and about 8,500 worldwide.
Zimmer has seen sales drop and market share shrink in recent quarters, sending its shares down some 40% in the past 10 months.
The company last year reported a $19 million expansion to its Warsaw foundry to produce implants for hip, knee and shoulder replacements.