Layoffs: Covidien to shutter South Carolina plant, cutting 595 jobs

Covidien plans to close a South Carolina manufacturing facility, moving operations to Costa Rica and laying off nearly 600 workers.

Covidien [1] (NYSE:COV [2]) will close a manufacturing facility in Seneca, S.C., and move the operation to Costa Rica, resulting in nearly 600 layoffs.

The Seneca facility manufactures vascular products for the Mansfield, Mass.-based medical device company.

A Covidien spokesman told Reuters that the cuts were a response to a "challenging healthcare environment where companies face pricing pressures and reimbursement issues."