York, Pennsylvania-based Dentsply Sirona, one of the largest manufacturer of dental equipment and consumable supplies is planning to reduce the headcount at their York headquarters. If new employees are to be hired, it appears that the company has decided to add those positions in their Charlotte, North Carolina office, warehouse, and training facilities.
In reporting Dentsply’s Third Quarter results, it was reported that Q3 revenue dropped 8% and a comprehensive restructuring review is under consideration.
According to CEO Don Casey, “We fully realize that our recent performance has been unacceptable and that is why we are taking aggressive action to grow revenues, expand margins and simplify the organization. During the implementation of the program, we have prioritized maintaining the Company’s revenue stream and serving our customers, including leveraging our existing infrastructure and outside resources to coordinate our activities. We are dedicated to supporting our talented teams through this important and much-needed transformation. Our path forward will require making difficult decisions, but nevertheless, we are confident that the steps announced today will ensure growth over the long-term, and drive significant value for our shareholders."
Specifically mentioned in the Q3 report, initiatives include: “Streamlining sales and marketing,” “Consolidate the Company’s Dental Strategic Business Units (SBUs) organization from 10 to 4 units to better unlock the synergies that exist within the various businesses,” “Optimize its corporate infrastructure to support its enhanced business model,” and most troubling of all, “Reduce global workforce by approximately 6-8%.”
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