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Stock Market & Financial Investment News

News Breaks
December 27, 2012
09:18 EDTIVCInvacare announces workforce reduction at Taylor Street manufacturing facility
Invacare announced that due to a decline in production, the company has initiated an immediate workforce reduction at its Taylor Street manufacturing facility in Elyria, Ohio. The expected decline in production results principally from the company’s previously announced consent decree of injunction with the FDA, which was approved late last week by the United States District Court for the Northern District of Ohio. Invacare currently employs 365 hourly manufacturing associates at its Taylor Street facility in Elyria, Ohio. As a result of the workforce realignment, 222 associates will remain in their current roles or be reassigned to other roles across the Elyria campus. The remaining 143 associates will be laid off. For those associates who have been laid off, Invacare will offer 60 days continuance of pay and benefits. Due to the realignment, the Company expects to incur one-time restructuring charges not to exceed $1.25M on a pre-tax basis.
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December 22, 2014
07:31 EDTIVCInvacare names C. Martin Harris as interim chairman
Invacare Corporation announced that C. Martin Harris, M.D., has been appointed interim Chairman of the company’s Board of Directors. Dr. Harris joined Invacare as a director in 2003 and was appointed Invacare’s Lead Director effective May 17, 2012. Dr. Harris steps into the interim Chairman role upon the retirement of A. Malachi Mixon, III, who retired as Executive Chairman of the Board of Directors, effective December 21, 2014. Mixon will continue his responsibilities as a non-employee member of the Board until the 2015 annual meeting when the company will nominate him for one additional term after which he will reach the Board’s mandatory retirement age of 75.

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