The report from Baird Equity Research stated that a "sizable headcount reduction" occurred on June 13 at the company's dental organization. Field sales reps, territory reps, and equipment specialists were included in the layoffs, according to the Baird report.
Multiple requests for comment from Patterson had not been returned at press time.
In the report, the company is quoted as stating that the layoffs were made "to drive growth and profitability in our dental business," and also to allow Patterson to "ultimately be stronger and more competitive in the market and to better serve all types and sizes of customers."
Earlier in June, the company reorganized its management structure, with Paul Guggenheim, CEO of Patterson Dental, becoming chief innovation officer and Scott Anderson, chairman of Patterson Companies, managing Patterson Dental on an interim basis.
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