Abbott Lays Off More than 300 Employees as COVID-19 Testing Demand DeclinesAbbott Lays Off More than 300 Employees as COVID-19 Testing Demand Declines

Abbott is eliminating 310 jobs at its Westbrook, ME manufacturing facility.

Omar Ford

July 8, 2021

1 Min Read
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The COVID-19 testing bubble could be on the verge of popping for Abbott Laboratories. The company is eliminating 310 jobs at its Westbrook, ME manufacturing facility according to a report from Mainebiz.

The outlet also reported that another 100 workers could lose jobs at the firm’s Scarborough, ME plant. The company said the laid-off employees would be offered severance packages and would be considered for other positions in the company, according to an AP report.

During the onset of the pandemic, Abbott said it was expanding its workforce into Westbrook to help make COVID-19 testing kits by buying a former sporting goods distribution center that would employ about 1,200 worker, according to the AP report.

In early June, Abbott announced a much-changed outlook for rapid COVID-19 testing. In April of this year, the company reported that total COVID-19 testing sales declined to $2.2 billion in the first quarter from $2.4 billion in the fourth quarter of last year, which contributed to a total sales miss of about $230 million (including a miss in the diagnostics segment of roughly $360 million) compared to analysts' forecasts.

The firm’s BinaxNOW COVID-19 Ag Card was a heavy driver for early testing sales. Abbott inherited the technology behind the test through its $5.3 billion acquisition of Alere. In 2005, Alere acquired Binax.

About the Author

Omar Ford

Omar Ford is a veteran reporter in the field of medical technology and healthcare journalism. As Editor-in-Chief of MD+DI (Medical Device and Diagnostics Industry), a leading publication in the industry, Ford has established himself as an authoritative voice and a trusted source of information.

Ford, who has a bachelor's degree in print journalism from the University of South Carolina, has dedicated his career to reporting on the latest advancements and trends in the medical device and diagnostic sector.

During his tenure at MD+DI, Ford has covered a wide range of topics, including emerging medical technologies, regulatory developments, market trends, and the rise of artificial intelligence. He has interviewed influential leaders and key opinion leaders in the field, providing readers with valuable perspectives and expert analysis.

 

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