Layoffs Slashing More Than 100 Jobs At Phoenix Pharmacy Company

PHOENIX, AZ — A Phoenix pharmaceutical company has announced it will lay off 116 employees, the latest in a string of job cuts hitting Arizona as the state's labor market shows signs of strain heading into summer.

Central Admixture Pharmacy Services, Inc., located at 2200 South 43rd Avenue, filed a Worker Adjustment and Retraining Notification with the state on June 25.

The company, known as CAPS, is the nation's largest network of outsourcing admixture pharmacies, operating 23 locations across the country that prepare compounded sterile medications for hospitals and outpatient facilities nationwide.

The layoffs come as Arizona's job market weakens. The state lost 14,300 jobs in May after gaining 16,300 in April, according to the Arizona Office of Economic Opportunity. Unemployment rose from 4.7% in April to 4.8% in May, marking the third straight month Arizona's rate has sat above the national average.

The CAPS layoffs follow a much larger round of cuts at Lucid Motors, which disclosed in a SEC filing this week that it is eliminating 18% of its workforce, including 705 jobs in Arizona.

Part of those cuts involves shutting down the second production shift at the company's Casa Grande factory. Lucid said the workforce reduction, which includes full-time employees, contractors and hourly manufacturing workers, is expected to save the company $158 million annually.

Federal law requires employers to provide 60 days' notice before mass layoffs or plant closings under the Worker Adjustment and Retraining Notification Act, giving affected workers time to plan before losing their jobs.