Phillips-Medisize, a manufacturer of pharmaceutical delivery systems, medical devices, and diagnostic products, announced on Monday that it will be closing its factory in Medford, Wisconsin, USA, which currently employs 170 people. The company, headquartered in Hudson, Wisconsin, stated that it will be phasing out the Medford facility by the end of 2023.
Spokesperson Sally Hoffman stated that Phillips-Medisize operates in a constantly evolving market, which requires us to continually assess global conditions and capabilities to ensure long-term competitiveness.
In the past few months, companies across industries have implemented layoffs due to concerns about economic recession and macroeconomic fluctuations. In July, Phillips-Medisize laid off 99 employees and closed its Crois Meadows factory in Hudson, citing a significant reduction in production demand from a major client.
Representatives of Juul Labs, a manufacturer of e-cigarettes, confirmed this month that Juul has reduced its order demand. Phillips-Medisize produces some of the electronic cigarette components for Juul, but the recently closed Medford factory did not manufacture components for Juul, and the closure is unrelated to the company. A spokesperson for Juul stated that there has been no change in recent production demands.
Phillips-Medisize, a company established in the 1960s, employs approximately 2,300 workers across multiple locations in Wisconsin, including Hudson, Eau Claire, New Richmond, Menomonie, and Phillips. In 2017, the electronic company Molex, headquartered in Illinois, acquired Phillips-Medisize. Molex is owned by Koch Industries, a corporate group based in Kansas.
A spokesperson for Phillips-Medisize, Hoffman, stated that the company has job openings in Wisconsin and other locations, and that the affected employees will have the option to apply for these positions as well as those at other Molex and Koch locations. The company will also provide severance packages and targeted employee assistance in the coming months.
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