8 Updates
Drugmaker to cut 400 jobs in Puerto Rico
Photo Credit: Al Bello, Getty Images

Drugmaker to cut 400 jobs in Puerto Rico

Mar 9 2013, 12:42am CST | by

San Juan, March 9 (IANS/EFE) The Puerto Rico unit of Baxter International Inc. plans to eliminate 400 jobs at its pharmaceutical production facility in Aibonito, the town's mayor said Friday.

San Juan, March 9 (IANS/EFE) The Puerto Rico unit of Baxter International Inc. plans to eliminate 400 jobs at its pharmaceutical production facility in Aibonito, the town's mayor said Friday....

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1 year ago

Drugmaker to cut 400 jobs in Puerto Rico

Mar 9 2013, 12:42am CST | by

San Juan, March 9 (IANS/EFE) The Puerto Rico unit of Baxter International Inc. plans to eliminate 400 jobs at its pharmaceutical production facility in Aibonito, the town's mayor said Friday.

San Juan, March 9 (IANS/EFE) The Puerto Rico unit of Baxter International Inc. plans to eliminate 400 jobs at its pharmaceutical production facility in Aibonito, the town's mayor said Friday.

Layoffs will begin in June with the loss of 100 positions as the company shifts some operations to the Dominican Republic and automates selected processes at the Aibonito plant, William Alicea said.

The cuts represent a significant blow to the economy in Aibonito, where Baxter once employed 900 people and remains one of the town's largest employers, the mayor said.

Baxter has plans to invest up to $35 million on new machinery for the Aibonito plant.

The company has operated in Puerto Rico since 1958 and has roughly 4,000 employees on the island.

Baxter Puerto Rico has manufacturing facilities in Jayuya, Aibonito and Guayama, a logistics center in Catano and sales and marketing offices in Guaynabo.

--IANS/EFE

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IANS

Source: IANS

 
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Source: Memphis Business Journal   Full article at: Memphis Business Journal
 

 
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By Micro-Cap Gem Finder:This article is a follow-up to several articles that I've written previously about the Wet Seal Inc. (NASDAQ:WTSL). For those not familiar with Wet Seal, the company is a national multi-channel retailer selling fashion apparel and accessory items through its stores and a growing e-commerce presence. The company operates through the following segments: Wet Seal a ...
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INFLATION ALERT: Hershey Is Raising Prices 8% (HSY)

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Hershey is raising prices by 8%.  In the latest sign that inflation could be coming down the pike, the chocolate giant, which has a market cap of about $21 billion, is boosting prices in response to commodity prices.  The Fed's preferred measure of inflation — core PCE — excludes the cost of food and gas, but following last week's commentary from retailers about the state of the U.S. consumer, these price increases can squeeze budgets without showing up in official ...
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Wall Street Breakfast: Tobacco M&A, Muni Outflows, Google Glass Telekinesis

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Wall Street Breakfast Editors submit:EconomyU.S. municipal bond funds had some of the biggest outflows since January after investors pulled out $790M in the week ending July 9. $691M of the outflows were in the high-yield sector, being withdrawn due to default concerns of Puerto Rican debt. Adding to the worries is Puerto Rico's newest law which allows for public corporations to restructure their debt. Barclays High Yield Municipal Bond Index, up more than 9.5% in m ...
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By Jeffrey Himelson:The Great Recession bankrupted many companies and resulted in others trading at mere pennies of their former selves. As the major indices are hitting new all-time highs, many of these companies recovered. However, there are a few that have yet to experience a revival. First BanCorp (FBP) certainly is trading at a discount to its former self, down 96.4% off its former high. With a return to profitability and an improving balance sheet, FBP is undoubtedly und ...
Source: SeekingAlpha   Full article at: SeekingAlpha
 

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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