Devices & Diagnostics

Invacare lays off 50 workers worldwide

Home health equipment maker Invacare (NYSE:IVC) is laying off about 50 workers worldwide, citing a […]

Home health equipment maker Invacare (NYSE:IVC) is laying off about 50 workers worldwide, citing a difficult economy and declining reimbursements to its customers.

The layoffs are primarily hitting office workers and affect less than 1 percent of the Elyria, Ohio-based company’s 6,200 global workers, spokeswoman Lara Mahoney said.

Mahoney partially blamed the layoffs on falling reimbursements to nursing homes and other home medical equipment buyers.

“We’re just ensuring that we’re running as efficiently as possible,” she said. “We’re hiring in some positions and having to make tough decisions in others.”

About 30 of the layoffs will come from Invacare’s Northeast Ohio home base. The company is offering severance and outplacement services for laid-off employees, Mahoney said.

In announcing its second-quarter financial data in July, the company maintained its previous full-year guidance of $2.05 to $2.15 in adjusted earnings per share. At the time, Invacare revealed that it had decided to cease operations at two facilities, one in the U.S. and one in Europe.

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