Neuro Division Layoffs

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COV year in review: Foreign exchange rates, pricing pressure in some device segments and at least one product recall prevented what was a solid revenue year for the company's device business from becoming a stellar one. In particular, those factors converged to hammer down the company's 2012 fourth-quarter numbers a bit lower than compared to the same period in 2011. New product rollouts prevented worse numbers, but Covidien ($COV) also pursued cutbacks during the year, with plans to eliminate nearly 600 jobs by shuttering a plant in South Carolina.

Covidien, like many device companies, also spent much of 2012 building up its presence in CHINA. Late in the year, the company opened a new $45 million, 100,000-square-foot R&D center in Shanghai. For Covidien, 2013 will be a year of change, as the company pursues its own plans

Looks like all those sweet Irvine manufacturing jobs will be sent to China...
 
























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