West Pharma cuts 320 jobs
West Pharmaceutical Services, which manufactures components and systems for injectable drug delivery and plastic packaging, and delivery systems components for the healthcare and consumer products, said today that it's cutting 320 jobs from two manufacturing plants. West will shutter a PA-based manufacturing facility, taking with it 170 jobs. It also plans to downsize operations at its facility in Cornwall, U.K, to the tune of 150 jobs. About 50 operational and administrative jobs will also be cut. The overall job cuts will total five percent of the company's 6,400-person work force, according to Pharmalot.
West will shift production to other plants as the Pennsylvania and Cornwall plans are enacted. The costs of the restructuring are expected to be between $18 million and $21 million. The company expects to reduce annual operating costs by approximately $12 million by 2013.
"The changing landscapes in the healthcare and consumer markets we serve require that we regularly evaluate our operations and adapt to changing conditions in order to successfully compete," said CEO Donald Morel in a statement. "The plans announced today will reduce the manufacturing capacity devoted to product lines that no longer support sustainable, competitive operations, and will unfortunately result in the loss of a number of jobs over time.