Zimmer Holdings Inc. held a meeting at Warsaw Community Church today to outline new directions the company will be going.
The company also announced it's cutting retiree benefits.
The orthopedic company announced it's ending retiree self-funding medical and life insurance benefits for all eligible participants Dec. 31. These benefits were closed to new enrollments as of May 31.
According to Zimmer, it will affect some 1,700 former employees in the United States and Puerto Rico, and is necessary to sustain long-term growth.It also will affect 150 retirees.
The company noted competitors didn't offer similar benefits.
Zimmer is working with an insurance company to offer a fully insured health plan that would provide present and future retirees access to a medical plan. Zimmer currently offers a medical option where employees can save for future health care expenses.
Zimmer recently cut jobs, including about 150 jobs from its Warsaw facilities.
Today at WCC, employees gathered to hear presentations on how Zimmer will go forward from its recent cutbacks.
Brad Bishop, director of public affairs at Zimmer, said a series of all-employee meetings are being held company wide to talk about a new set of purpose, mission and value statements that have been developed. The meetings also will address the strategic direction of the company.
