Job cuts are expected at a North East maker of laboratory equipment.
Thermo Fisher Scientific, which makes a range of products including lab containers and sterile liquids, has confirmed it intends to make "adjustments" to its staffing levels at its Cramlington facility. It says the move is in response to lower demand.
Around 79 jobs are understood to be at risk as the firm says consultations with staff are now under way. It comes after reports that Thermo Fisher has also scaled back operations at some of its test making facilities in San Diego, California.
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A spokesperson for the company said: "Thermo Fisher Scientific continuously evaluates its global operations to identify opportunities to improve efficiency and effectiveness in meeting our customers’ needs. There are times when we must adjust staffing levels to remain in line with macro-economic conditions and current volume demands.
"In alignment with this ongoing effort, we have made the decision to propose the adjustment of staffing levels at our Cramlington, º£½ÇÊÓƵ site to remain in line with current manufacturing volume demands. Further information regarding this proposal will be available once works council negotiations are completed.
"Decisions that may impact colleagues and their families are never taken lightly. However, these proposed actions are designed to better help us serve our customers, strengthen our global competitive position, and provide long-term growth and success of our organization."
Thermo Fisher has headquarters in Massachusetts and runs a number of facilities across the º£½ÇÊÓƵ. In first quarter 2023 results published earlier this year, the company said revenue declined 9% to $10.71bn. Meanwhile GAAP (generally accepted accounting principles) operating income for the first quarter of 2023 was $1.56bn, compared with $2.82bn the year previously.
At the time, Thermo Fisher chairman, president and chief executive officer Marc N. Casper said: "We delivered another quarter of very strong financial performance, driven by our proven growth strategy and powered by our PPI business system. The team executed very well to navigate a dynamic macroenvironment, enable our customers’ success, and drive share gain.
"We are incredibly well positioned to deliver differentiated performance, as we continue to create value for all of our stakeholders and build an even brighter future for our company."
