UPDATE: Covidien to Shutter South Carolina Plant, Lay Off 595 -Reuters

Medical device maker Covidien Plc COV said it would close a South Carolina facility where it manufactures vascular products, laying off about 595 full-time employees, as it looks to improve efficiency across its global operations. The company took into consideration all options before deciding to decommission the Seneca plant, a Covidien spokesman told Reuters. "We will move the operations from Seneca to Alajuela, Costa Rica, where we have a facility," the spokesman said. The closure is expected to be completed in about three years. Covidien said it would provide full severance to the affected employees and assist them with applying to jobs at its other plants. -Reuters