Retractable Technologies, Inc. Announces Reduction in Workforce

Retractable Technologies reduces workforce by about 7%

Retractable Technologies, Inc. Announces Reduction in Workforce

LITTLE ELM, Texas--(BUSINESS WIRE)--Apr 10, 2025-

Retractable Technologies trims workforce by 7% as tariff concerns loom

Retractable Technologies is laying off around 7% of its workforce to free up resources amid market uncertainty prompted by Trump’s tariffs.The post Retractable Technologies trims workforce by 7% as tariff concerns loom appeared first on Medical Device Network.

Retractable Technologies cuts workforce to reduce China reliance

Retractable Technologies (NYSE:RVP) announced today that it reduced its workforce by approximately 7%. The Little Elm, Texas-based maker of products like syringes and needles said the move comes as it allocates more resources to the U.S. It aims to increase U.S. manufacturing capabilities and reduce reliance on products produced in China. According to a news release, contract manufacturers in China historically produced most products sold by Ret…

Retractable Technologies (RVP) Cuts Workforce to Boost U.S. Manufacturing

Retractable Technologies, Inc. (RVP, Financial) has announced a 7% reduction in its workforce, a strategic move expected to save the company approximately $1.6 million annually in wages and benefits. This cost-saving measure represents about 7.8% of the total workforce expenses and is partially offset by one-time separation payments amounting to $300,000 to those affected employees. The workforce reduction predominantly impacts general and admin…

$1.6M Cost Savings: Retractable Technologies Shifts to US Manufacturing in Strategic Layoff

Strategic 7% workforce reduction yields $1.6M annual savings as Retractable Technologies bolsters US manufacturing capabilities. See full restructuring impact.