DENTSPLY SIRONA Inc. (XRAY): restructuring charge — Dentsply Sirona approves restructuring; cuts 8-10% workforce, targets $200-225M annual savings

DENTSPLY SIRONA Inc.

Global workforce reduction of 8-10%; new operating model with five global business units.
Expects $200-225M annual cost savings within 18 months; up to $165M in one-time charges.
One-time charges: ~$130M restructuring (employee severance, benefits) and ~$35M professional fees.
Targets adjusted EPS of $3.00 for 2026; 2023 viewed as transition year.
Also reviewing product portfolio at SKU level to reduce complexity and improve margins.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

DENTSPLY SIRONA Inc. announced a restructuring with charges of up to $165 million in one-time charges, comprising $130 million in restructuring expenditures and charges, the majority of which will be expensed as cash expend affecting DENTSPLY SIRONA Inc. global business (reduction in the Company's global workforce of approximately 8% to 10%).

Type: restructuring
Charge: up to $165 million in one-time charges, comprising $130 million in restructuring expenditures and charges, the majority of which will be expensed as cash expend
Affected area: DENTSPLY SIRONA Inc. global business
Headcount: reduction in the Company's global workforce of approximately 8% to 10%

Exact text from the filing

savings. The Board of Directors and management of the Company developed the restructuring plan with the help of leading third party advisors. The Company expects to incur up to $165 million in one-time charges, comprising $130 million in restructuring expenditures and charges, the majority of which will be expensed as cash expenditures in 2023, primarily related to

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

DENTSPLY SIRONA Inc. filing history →

Source: SEC EDGAR

accession 0000818479-23-000006

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