Medical, dental equipment supplier Henry Schein to lay off 300 worldwide
MELVILLE, N.Y. Henry Schein reported it third-quarter earnings Wednesday and said that it will cut 300 jobs from its global workforce and close some facilities. The company attributes declining dental equipment sales to the economic slump that is now worldwide.
The cuts will affect 30 to 40 jobs on Long Island, Henry Schein’s chief financial officer Steven Paladino told the press. Henry Schein also lowered its guidance for the current fiscal year.
The company’s chief executive officer, Stanley Bergman, said in a statement, “Given the recent changes in the economic climate, we expect that the markets Henry Schein serves will continue to grow, but at a somewhat slower rate during these challenging economic times.”
For the third quarter 2008, Henry Schein reported that sales totaled $1.7 billion, up 9.6 percent from the third quarter 2007. Earnings totaled $68.4 million, 75 cents per share, for the quarter, compared with $59.5 million, or 65 cents per share, at the same time last year, the company said.
Henry Schein reported that dental sales increased 4.5 percent in the third quarter, totaling $645 million and medical sales dropped by 4.1 percent to $427 million. The company also reported that international sales climbed 30.7 percent to total $538 million and sales of medical and dental technology services rose by 28.8 percent to total $41 million.
AHIMA applauds Barack Obama for campaign success
CHICAGO The American Health Information Management Association has congratulated Barack Obama on his election as president of the United States, calling for reform of the healthcare system.
“Given the president-elect’s strong statements in support of health information as a key to expanding healthcare coverage while improving quality and controlling costs‹most recently during his infomercial last week—AHIMA is understandably optimistic,” AHIMA chief executive officer Linda Kloss said in a statement. “We urge the Obama administration to pursue the imperative of a 21st century health information platform that offers providers, payers and patients the accurate, integrated and secure electronic information they need to make decisions of utmost importance.”
GlaxoSmithKline consolidates U.S. headquarters, announces layoffs of 1,000
PHILADELPHIA GlaxoSmithKline, the maker of Abreva, Aquafresh toothpastes, Nicorette, Sensodyne and Tums will cut its workforce by about 1,800 jobs and make Research Triangle Park in North Carolina its permanent North American headquarters, replacing the current U.S. headquarters in Philadelphia, reports said today.
GlaxoSmithKline has had duel headquarters in the United States since the merger between Glaxo Wellcome and SmithKline Beecham was finalized in 2000, The Wall Street Journal today reported.
Today, GSK said that it will cut 1,800 positions, laying off about 1,000 people and eliminating hundreds of vacant positions, reports said.
GSK’s global headquarters are in London. The company is currently in the midst of belt-tightening in many departments due to growing pressure from the quickly expanding generic drug market and a decline in drug sales.