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CHARLOTTE, N.C., US: Dentsply Sirona has announced a raft of company changes, including restructuring its operating model and reducing its global workforce by 8% to 10%. The changes have been adopted as part of the dental giant’s ongoing review of its business operations and are intended to save Dentsply Sirona around US$200 million (€187 million) in costs over the next 18 months.
The company announced in a press release that its board of directors had approved an organisational restructuring plan that was intended to improve operational performance and profitability and create more value for shareholders. The company said that, among other measures, it will streamline its operations by creating five global business units, establishing central functions and creating the new role of senior vice president of quality and regulatory; simplify its management structure to bring it in line with industry best practices; and reduce its global workforce by 8% to 10%.
Dentsply Sirona’s global workforce numbered approximately 15,000 employees at the end of 2021, according to the company’s 2021 annual report.
CEO Dr Simon Campion commented in the press release: “The actions we are planning follow our comprehensive review of the business and will enable Dentsply Sirona to improve its execution, build a winning portfolio, return to growth, and generate consistent returns.” He explained: “We are acting with urgency to implement this operating model, which we believe will drive overdue organisational integration and improve organisational accountability and efficiency. While actions that impact our team are difficult, I am confident that this plan, along with anticipated outcomes from other workstreams, will set Dentsply Sirona on a trajectory to achieve stronger, more predictable results and add significant value for all stakeholders.”
The company said that making the changes will shave at least US$200 million off its expenses within the next 18 months and that these savings will be used to fund future investments and drive company growth. Dentsply Sirona noted that its future critical growth investments included accelerating digitalisation in its enterprise and “winning” in the clear aligner and dental implant product categories.
Making the changes will cost Dentsply Sirona US$165 million, which will mainly be expensed in 2023.