WEST VIRGINIA (LOOTPRESS) – A recently formed pharmaceutical spinoff will slash 20% of its workforce as it tries to cut at least $1 billion in costs over the next few years.
Viatris Inc. said Friday that it plans to close, cut or sell up to 15 manufacturing sites globally that it sees as no longer necessary due to factors including excess capacity or a shift in the company’s products.
Viatris employs about 45,000 people worldwide, so the cuts could affect up to 9,000 workers. Sites affected initially will include locations in Morgantown, West Virginia, Ireland, Puerto Rico and India.
The company said job cuts at the sites it identified Friday will occur in phases over the next few years.
Senator Shelley Moore Capito released the following statement:
“I’m incredibly disappointed to learn that Viatris’ Morgantown plant will be ending its manufacturing operations by July 2021. This is devastating news for the hundreds of hardworking individuals who worked at Mylan that make up the plant’s workforce and the entire community—especially during the holiday season. I will continue to do whatever I can to help the community—whether it’s working with partners at the federal, state, and local levels, to attract new investment to the area or assisting those who have been impacted by the closure.”