Limerick-based medical device maker Cook Medical to cut 500 jobs worldwide

Employees with Cook Medical across the globe, including the approximately 900 staff working at the firm in Ireland, received a memo informing them about the planned layoffs.

Bill Doherty, executive vice-president, EMEA, with Cook Medical in Limerick.

Limerick based-medical device manufacturer Cook Medical said it plans to cut 500 jobs, or 4% of its global workforce, following other multinationals who have slimmed down headcount amid a challenging economic environment.

The company said that the decision is a “difficult step” for its “strategic success”.

It is not clear yet what employees will lose their jobs but the company said no hourly manufacturing employees or hourly employees in distribution centers will be impacted.

“Demand for our products continues to grow and we want to ensure we have the capacity to meet it,” said Cook Medical president Pete Yonkman.

Employees with Cook Medical across the globe, including the approximately 900 staff working at the firm in Ireland, received a memo from Mr Yonkman informing them about the planned layoffs.

The last several years have brought significant change to our customers, our supply chain, and the way we work,” Mr Yonkman said in the memo.

“To ensure that we are positioned to be successful in this new world, our global leadership teams have implemented a new five-year vision and strategic plan that were informed by extensive feedback from our customers, employees, and leadership teams,” he said.

The company asked that that all hybrid employees and onsite employees who are capable of working from home to do so for the remainder of the week.