Retractable Technologies Reduces Workforce by 12.4%, Shifts Focus to Domestic Production

Retractable Technologies, Inc. has reduced its manufacturing workforce by 12.4% to save around $1.6 million annually in wages and benefits. The move is aimed at mitigating the financial impact of tariffs on imported products from China, with a focus on increasing domestic production. One-time separation payments of $56,000 were made to affected employees. The company remains committed to balancing domestic production with imports for products that cannot be produced locally.

Retractable Technologies, Inc. (RVP) has announced a significant reduction in its manufacturing workforce by approximately 12.4% to save around $1.6 million annually in wages and benefits [1]. This strategic move is aimed at mitigating the financial impact of tariffs on imported products from China, with a focus on increasing domestic production. The company has made one-time separation payments totaling approximately $56,000 to the affected employees [2].

The workforce reduction primarily targets manufacturing and support positions, as the company navigates the financial impacts of tariffs on its imports from Chinese contract manufacturers. Despite this reduction, Retractable Technologies, Inc. remains committed to bolstering its domestic manufacturing capabilities while still relying on imports for products that cannot be produced locally.

The transition towards increased domestic production is a response to the material financial impact of tariffs on Chinese imports. The company is unable to predict future U.S. trade policy and its potential impact on the Company’s ability to import products from China or other countries [2]. However, Retractable Technologies, Inc. is dedicated to minimizing the financial repercussions of these changes while maintaining its market presence in the safety medical products sector.

Retractable Technologies, Inc. manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections [2].

References:
[1] https://www.gurufocus.com/news/2999161/retractable-technologies-inc-announces-reduction-in-its-manufacturing-workforce-rvp-stock-news
[2] https://www.businesswire.com/news/home/20250723680605/en/Retractable-Technologies-Inc.-Announces-Reduction-in-Its-Manufacturing-Workforce