Smith and Nephew streamlines operations to save $57 million
This article was originally published in Clinica
Executive Summary
Smith & Nephew is to restructure its operations into three main global businesses in a bid to reduce costs by £35 million ($57 million) annually by 2002. In addition, the UK-based company plans to boost investment in these three businesses - orthopaedics, endoscopy and woundcare - while improving the profitability and cash flow of its remaining interests, which will also operate on a global basis. S&N aims to achieve an operating margin of 17% (a 3% increase) by 2001 and "high single-digit" earnings per share growth from 1999 onwards. Some 1,000 jobs will be cut - just under one-tenth of the total workforce.
You may also be interested in...
Cosmetic And Personal Care Trademark Review: 16 April
Personal care and cosmetic product trademark filings compiled from the Official Gazette of the US Patent and Trademark Office, Class 3.
Health And Wellness Weekly Trademarks Review: 16 April
Trademarks are registered and published for opposition with the US Patent and Trademark Office and are published weekly in the agency's Official Gazette.
Beauty Packaging Producers: July Marks Registration Deadline With PRO In Three States
Companies considered producers of single-use packaging in Oregon, Colorado and California must register with Circular Action Alliance, the leading (and currently only) producer responsibility organization, by 1 July 2024 under new state recycling laws.