Symmetry Medical Inc. is considering closing its production plant in Cheltenham, England, according to a filing with the Securities and Exchange Commission. But first, the Warsaw-based orthopedics industry supplier must consult with its 40-person workforce there.
The location in fiscal 2013 generated $4 million in revenue, which was an operating loss for the company.
The British government requires companies planning job eliminations to meet with workers and discuss why the action is being considered and ways they might avoid or minimize job cuts. The employer is also required to help workers transition to new jobs. That could include paying for skills training.
As a result, Symmetry officials are unsure whether or when the plant might close. They're also unable to reasonably estimate the costs associated with a possible closure. The plan is part of an effort to reduce the company's footprint and lower costs.