Ivoclar reacts to economic challenges with cutting 240 jobs

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Ivoclar reacts to economic challenges with cutback of 240 jobs

The Ivoclar Group has announced a reorganisation programme for 2024. (Image: Olivier Le Moal/Shutterstock)

Tue. 12. March 2024


SCHAAN, Liechtenstein: The Ivoclar Group, a leading global manufacturer of integrated solutions for high-quality dental restorations, has closed the 2023 business year with a turnover of CHF 856 million (€918 million).* Even though increased sales were recorded in all sales regions, the company’s revenues were below those of the previous year owing to negative currency exchange rates. In response to this challenging economic environment, the Liechtenstein-based company has announced that it will be implementing a reorganisation programme in the course of the year.

“The planned measures are essential for ensuring the success of our company in the long term,” said Markus Heinz, CEO of the Ivoclar Group since March 2023. “We have an obligation to act in the face of this extremely difficult currency situation, the unfavourable geopolitical and economic developments, and the associated costs that have risen disproportionately,” he explained.

As a result, Ivoclar will consistently focus on its strategic priorities and core competencies. This focus will go hand in hand with a comprehensive cost reduction programme, which will include workforce reductions at different Ivoclar locations.

The Ivoclar Group sells its products in around 130 countries, has 56 subsidiaries and branch offices, and employs about 3,700 people worldwide—970 of whom work at the company’s headquarters in Schaan. (Image: Ivoclar)

Globally, around 240 employees will be affected by the cutback in staff. According to the corporate management, the company will strive to provide the best possible personalised support to employees affected by the staff reductions. A redundancy scheme is already in place.

Editorial note:

* Calculated on the OANDA platform for the last day of trading in 2023.

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