Retractable Technologies cuts workforce ~16% to save $2.2M annually amid tariff concerns

RETRACTABLE TECHNOLOGIES INC

Reduced workforce by ~16%; expects $2.2M annual savings (13% of total workforce costs).
One-time separation payments of ~$122k; 58% of cuts target manufacturing/manufacturing support.
Cuts driven by tariffs on Chinese imports; company increasing domestic production to mitigate cost.
Company remains reliant on Chinese imports for products not manufacturable domestically.

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