Varian Medical Systems laid off several installers last week as business is dwindling and supply lines from China are disrupted. They also stopped 401K contributions and implemented a pay freeze for the next year. They are also freezing all new hiring. Looking for a few bad quarters as there is some rumors of an FDA audit as well as it seems Varian is not installing and servicing the equipment properly. Might be a time to short sell the stock.
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California Warn Notice
07/01/2020 09/01/2020 07/06/2020 Varian Medical Systems Palo Alto Santa Clara County 101 Layoff Permanent
I heard the same thing. Looks like it is going to be a rough quarterly report. So much for sending manufacturing offshore to save money and maybe they should bring it back to the USA to avoid the ongoing quality issues too!