Dental supply company Dentsply Sirona is restructuring its business to improve operational performance.
Five notes:
1. Dentsply Sirona said the new operating model will streamline the organization, enhance operational efficiency and position itself for sustainable growth.
2. Among the company's plans are reducing its global workforce by approximately 8 percent to 10 percent, implementing five global business units, creating a senior vice president of quality and regulatory role, and simplifying its management structure.
3. The company expects to incur $165 million in costs associated with its restructuring plan but expects to achieve at least $200 million in annual cost savings over the next 18 months, which will help the company fund future growth investments, according to a Feb. 16 news release.
4. Dentsply Sirona will also review its product offerings to help streamline its portfolio.
5. Dentsply Sirona CEO Simon Campion said in November the company was not satisfied with its third quarter financial results and would initiate a comprehensive review to improve performance. The supplier brought in $947 million in net sales, an 8.9 percent drop from the third quarter of 2021.