Retractable Technologies, Inc. Announces Workforce Reduction

Retractable Technologies, Inc. has announced a workforce reduction of approximately 16%, which is expected to result in annual savings of $2.2 million in wages and benefits, or 13% of total workforce costs. This reduction is partially offset by one-time separation payments totaling approximately $122 thousand. The company is increasing domestic production capabilities and manufacturing efficiencies to reduce reliance on Chinese contract manufacturers due to the financial impact of tariffs. Approximately 58% of the targeted payroll reduction impacts manufacturing roles, with the remainder affecting sales positions. Retractable manufactures safety medical products including VanishPoint® and Patient Safe® syringes, and the EasyPoint® needle, designed to prevent needlestick injuries and reduce infection risks.