AM I NEXT? NO LOVE AT CAREISMATIC BRANDS

Santa Monica, California-based Careismatic Brands, a manufacturer/importer of medical clothing, closed its two Dallas distribution centers on May 31, 2024.

The closure impacted 404 employees and follows the company's Chapter 11 bankruptcy filing.

According to a company spokesperson, “We have made the difficult decision to wind down operations at our distribution centers facilities. We are grateful to our distribution center team for their dedication and contributions to CBI and are taking steps to support them through this transition. As we move forward, we are diligently working to ensure a seamless transition with minimal disruption to our customers.”

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Careismatic Brands, LLC ("CBI" or "the Company"), the world’s largest medical apparel provider, today announced that it has emerged from Chapter 11 following confirmation of the Company’s Plan of Reorganization on May 31, 2024. The completion of the financial restructuring process marks a pivotal milestone in Careismatic’s corporate transformation and positions it for long-term growth.

"The completion of our financial restructuring process will enable us to better serve all of our stakeholders in the retail and healthcare communities," said Sid Lakhani, CEO of Careismatic Brands. "We enter our next chapter with strong financial footing and the resources to invest in the innovations that enhance the comfort and confidence of those who wear our uniforms. As I look to our bright future ahead, I am deeply grateful to our team for their dedication during this process and to our customers and suppliers for their continued loyalty and support."

Through its financial restructuring process, Careismatic has significantly strengthened its capital structure by eliminating all of its third-party debt. With a strong financial foundation, the Company is well-positioned to invest in product innovation and operational excellence, enhancing its ability to serve its global customer base. Careismatic moves forward under new ownership with a group of investment funds led by Nexus Capital Management, who have been dedicated partners to the Company through the restructuring process.

"Careismatic now has a solid foundation for future growth, profitability, and continued industry leadership," said Evan Glucoft, Managing Director of Nexus Capital Management. "We look forward to partnering with CBI’s leadership to realize their strategic objectives and continue the Company’s legacy of excellence in the healthcare apparel industry."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT STERIS

Mentor, Ohio-based Steris, a medical equipment company specializing in sterilization and surgical products, has announced a restructuring and personnel realignment. "The restructuring includes product line re-evaluations, facility consolidations, a strategy shift in the company’s healthcare surgical business in Europe, and an impairment review for an X-ray accelerator that was internally developed."

The reduction in force will impact approximately 300 employees with the restructuring to be mostly complete by early next 2025.

In an SEC filing, "the restructuring is meant to enhance profitability and improve efficiency."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ZIMMER BIOMET

Warsaw, Indiana-based Zimmer Biomet, a medical device manufacturer, has announced a 3% reduction in its workforce.

The personnel realignment will impact approximately 540 employees/

According to a company statement, In order to create and sustain a framework of operational excellence across Zimmer Biomet, we are making changes to further enhance our execution, commercial focus and how we collaborate. We will be reallocating investments and resources to best position the company for long-term growth, which includes last week’s announcement to reduce headcount by approximately 3% of the more than 18,000 total current global ZB team member positions."

“Simplification of our processes, our structure and how we work is key to delivering on our strategy, and we remain confident in our ability to execute as we continue to deliver on our mission to alleviate pain and improve the quality of life for people around the world.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?