Stryker will lay off 88 workers in Florida by the end of May as part of a plan to close its Lakeland location by December 2023 and lay off 495 workers.
The medical firm told Mayor Bill Mutz on Friday, April 1st, that it had decided to continue its layoff program at the company’s Lakeland facility.
Stryker’s human resources manager, Kathy C. Taylor said: “We expect that this will result in the permanent layoff of approximately 495 employees and the closure of the facility by Dec. 31, 2023,”
The Michigan-based firm began the layoffs on December 31 by removing 22 workers. On Tuesday, May 31, Stryker will cut another 88 jobs.
Taylor added: “The remaining 385 job cuts are expected on a rolling basis by Dec. 31, 2023.
The company first proclaimed the layoffs in an October letter to the state.
Stryker manufactures orthopedics, medical and surgical products, as well as neurotechnology and spine products for hospital patients.
Stryker has approximately 46,000 employees worldwide, with numerous U.S. and global subsidiaries, and its 2021 sales increased 19.2 percent from the previous year to $17.1 billion. It sells medical devices in over a hundred countries.
Since the layoffs were publicized, Stryker’s publicly traded stock has averaged more than $270 in price. Its 52-week range has been from $236 to $281.
Source: The Ledger