BLOOMINGTON, Ind. — Cook Medical will be cutting 500 employees as part of a new “long-term vision,” the Indiana-based manufacturing company announced Monday.
In an announcement posted to the company website, the Bloomington medical equipment manufacturer announced that it will be reducing its workforce by 4% as part of a new business strategy being implemented. This equates to around 500 people losing their jobs, the post said.
“The decision to reduce the size of our team is the most difficult decision we have had to make as we implement our long-term strategy,” the post said.
In a memo sent to employees, Cook Group and Cook Medical President Pete Yonkman said the choice was the result of “significant thought” and that it would be affecting positions globally.
“It is important to note that no hourly manufacturing employees or hourly employees in distribution centers will be impacted,” Yonkman said.
The memo from Yonkman said the affected employees will be sent a direct email and provided some specific information on next steps. No further information was provided on exactly which areas or sectors of Cook would see cuts.
“To those who are directly impacted by this decision: Thank you for your dedication and contributions to Cook,” Yonkman said. “You’ve helped to improve the lives of patients across the world. We appreciate everything you have done for Cook and we are committed to supporting you through this transition to help you in your next step.”