Zimmer Looks To Avoid Layoffs
Zimmer (NYSE:ZMH) President and CEO David Dvorak is looking to avoid layoffs as much as possible following the pending mega-merger with long-time rival Biomet.
According to a report by MassDevice, Zimmer, which is poised to become the second largest player in the orthopedics space by absorbing Biomet, plans to keep the entire sales force for both companies.
Both companies run their own independent distributor networks and Dvorak told MassDevice he aims to keep both, expecting that the combined portfolio of Zimmer and Biomet products will provide “plenty for those sales reps to do.”
He hasn’t worked out the details yet, but the companies have set up an “integration steering committee” to help figure out how to merge the networks without creating unnecessary redundancies. Zimmer also said that it would form teams to assist with the integration and look for best practices at each firm to maintain following the merger.
To read the full report, click HERE.