Haemonetics to cut 11% of workforce

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HaemoneticsHaemonetics (NYSE:HAE) said today that it plans to cut roughly 11% of its global workforce as it looks to pare $80 million from its annual cash burn by the end of fiscal 2020.

The Braintree, Mass.–based blood management company said it plans to eliminate 350 positions by the end of its fiscal year in April. The company reported employing 3,107 workers as of April 1; a spokeswoman told MassDevice.com this morning that some of the affected positions are already open. Other cuts are in store for direct material and indirect spending, facilities and freight over the next 30 months, the company said.

“The workforce reduction will exclude certain identified critical roles in direct selling and clinical support, hourly plant workers and employees involved in critical, time-bound projects, as the company remains committed to ensuring effective ongoing business operations and strong customer service,” Haemonetics said.

Get the full story on our sister site MassDevice.

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