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Maker of Breast Implants Cuts 12% of Workers

March 15, 2001|Bloomberg News

Inamed Corp., a maker of breast implants and other plastic-surgery products, said it will eliminate 85 jobs at one of its units by the end of the third quarter. The layoffs represent about 12% of Inamed's McGhan Medical unit work force of 700 people. McGhan Medical is combining its manufacturing, engineering and support operations at a new location in Santa Barbara, from six different buildings, the company said in a press release. Employees affected have been notified and will receive severance packages and job placement services, Inamed said. The new location will be operational in the third quarter. The shares of Inamed, which have risen 8.9% this year, rose 25 cents to $22.25.

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