Retractable Technologies, Inc. announced a workforce reduction of approximately 16% on April 9, 2026, expected to save an estimated $2.2 million annually in wages and benefits.
Key takeaways
The company reduced its workforce by approximately 16%, targeting manufacturing and sales roles.
The reduction is expected to save an estimated $2.2 million in annual wages and benefits, offset by $122 thousand in one-time separation payments.
Approximately 58% of the payroll reduction affects manufacturing or manufacturing support positions.
The company is increasing domestic production to mitigate the financial impact of tariffs on imports from China.
The company remains reliant on Chinese imports for products it cannot produce with current equipment.