Due to restructuring in Ortho, aka giving all the jobs over seas to Costa Rica, all the TX design team, clinical advisors, DC and FMQC, US based employees, are being laid off effective in March. Hard to say official numbers but it's upwards of 40 people. Many were here since clarity alligners started nearly 10 years ago. Pretty sc-mmy way to save a few bucks the day after they announced 1 Billion dollars for stock buy back.
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Any severance packages or was it handshake and a thank you?
Dental and Ortho rebranding are not paused
@19s say more…
@19s I would suggest to create a new thread on this question. The ones who know probably won‘t look here…
I heard someone say that dental product rebranding efforts were halted. Anyone know if that is true?
@a5 They never announce it broadly. Several departments have gone through significant layoffs and restructuring, and you don´t even get the full picture when your in one of the groups. It is painful to say, but even 3M did a better job when it comes to transparency than these leaders. And then they want you to put up the mission at the beginning of every presentation. Put people first......
@OP financially, there is only one real good reason to ever buy back shares: reduce the amount being paid out in dividends and use that savings to reinvest in the business.
But WAIT! SOLV doesn't pay any dividend.
Just look at the corporate website and see the board of "leaders" running this company sideways when the market has been up over 10 percent since last year. A bunch of external hires who have no other qualifications other than being a buddy of the CEO when he was in his previous job.
HCBG was the best possible spin from 3M. All it needed was a visionary CEO focused on growth. What happened? Some guy who miraculously un-aged some 10 years from his previous photo at a CEO.
That one billion could have been used at some targeted acquisitions as well as some debt payoff. But NO!!!!
And they are playing hide the weinie with AIP too. What a freaking joke of a company and CEO, not to mention his land of misfit toys SVPs.
@a5 just announced internally very recently
Is this announced?
@OP Par for the course and I'm sorry.