Retractable Technologies cuts workforce 16%; expects annual savings of $2.1M

RETRACTABLE TECHNOLOGIES INC

Workforce reduced by ~16%, primarily in production, operations, and logistics departments.
Annualized payroll savings of ~$2.1M (13% of payroll); separation costs ~$200K.
Reduction due to substantial completion of facility expansion and end of U.S. COVID-19 vaccination orders.
Company expects to maintain current domestic production level and have enhanced capacity after expansion completion.

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