Phillips Medisize Risk Report

👥 Labor & Workforce

Phillips-Medisize is experiencing significant labor and workforce challenges. The company has undergone several rounds of layoffs, suggesting potential instability in its workforce management. These actions might have considerable impacts on employee morale and productivity, potentially affecting the company's operational capabilities.

• Phillips-Medisize began layoffs affecting over 80 employees 🗓 February 19, 2023, in Medford, Wisconsin.
• The company announced the closure of a Medford plant, leading to the termination of 83 jobs 🗓 June 7, 2023.
• Phillips-Medisize's Wisconsin plant closure was confirmed, impacting 170 employees 🗓 July 13, 2023.
• Layoffs commenced with hundreds of workers affected in Wisconsin 🗓 August 18, 2022.
• The Medford manufacturing plant was announced to close by the end of 2023 🗓 August 19, 2022.

📜 Innovation & R&D

Phillips-Medisize has been active in advancing its research and development capabilities, highlighted by its partnerships and new product developments. The focus appears to be on enhancing its technology integration and medical device innovation.

• The company collaborated with Glucomodicum to develop a needle-free continuous glucose monitor 🗓 October 4, 2023.
• Phillips-Medisize helped bring a next-gen insulin pump to the market 🗓 August 17, 2023.
• A partnership was formed with Glucomodicum to produce a new CGM device 🗓 October 4, 2023.