Cook Medical to cut 500 jobs globally under plan to refocus efforts
May 15, 2023, 2:21 PM
BLOOMINGTON, Ind. (AP) — Cook Medical will cut 500 jobs under a plan to refocus efforts on product innovation, the Indiana-based maker of medical devices said Monday.
The cuts affecting about 4% of its global workforce will include about 223 workers in the U.S., including about 123 in Indiana.
Cook Medical said the layoffs will affect sales representatives and other workers dealing with customers. No hourly workers in manufacturing or distribution will be laid off, the Bloomington-based company said.
Cook announced the layoffs to all of its more 10,000 employees in an email from company president Pete Yonkman on Monday afternoon.
Employees who are laid off will receive severance packages ranging from 10 weeks to nine months, depending on their positions and length of service, the Indianapolis Business Journal reported.