BIOL - BIOLASE to cut 20% of US workforce to achieve sales and profitability goals
2023-06-05 07:31:25 ET
- BIOLASE ( NASDAQ: BIOL ) to reduce ~20% of its US workforce, resulting in a projected annualized cost savings of ~$4M.
- The workforce reduction is part of the Company's broader efforts to gain greater efficiencies throughout the organization, without impacting our revenue-generating strategies or the Company's ability to continue delivering unparalleled quality and value to its global customer base.
- "We believe today's action increases BIOLASE'S operational effectiveness, while the cost savings should allow us to allocate additional resources to revenue-generating initiatives and position us for sustained long-term success in the dental technology industry," commented John Beaver, President and Chief Executive Officer at BIOLASE.
- BIOL -2% premarket to $0.089
- Source: Press Release
For further details see:
BIOLASE to cut 20% of US workforce to achieve sales and profitability goals