Abbott to cut 900 jobs with plant closure

Abbott Laboratories has announced plans to close its hospital productsmanufacturing operations in Laurinburg, North Carolina, USA, which will result in the loss of 900 jobs.

Abbott, which employs about 70,000 people worldwide and 3,000 at the Laurinburg plant, said it took the action in order to "adapt to continuing cost pressures in the worldwide market." Affected employees will receive severance packages and outplacement services, the firm added.

James Mahoney, vice president of operations at Abbott's Hospital Products Division, said that "these actions result from an ongoing evaluation of business and economic conditions." He added that the firm will consolidate Laurinburg's manufacturing operations with other device plants by June 2002.