Retractable Technologies (RVP) said late Thursday that it slashed its workforce by about 7%, mainly general and administrative roles.
The company expects to save an estimated $1.6 million in annual wages and benefits, or about 7.8% of workforce costs. The one-time separation payments are expected to be roughly $300,000.
The move comes as the company "continues to allocate more of its resources to increase its US manufacturing capabilities and reduce reliance on products produced in China."
The company will work to "minimize" its exposure to the tariffs announced by the Trump administration. It plans to import those products it cannot make domestically and rely on its Little Elm facility to produce its majority products.
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