Align Layoffs: 700 jobs being cut in global restructuring after Q3 revenue miss

What’s happening at Align Technology?

Align Technology, the maker of Invisalign clear teeth aligners, has announced a global restructuring plan that includes 700 job cuts after missing third-quarter revenue targets. The Arizona-based company reported lower-than-expected demand, especially among younger patients, leading to a disappointing financial performance and subsequent workforce reductions.

• Q3 Revenue Miss: Align reported $977.9 million in revenue for Q3, down 4.9% from the previous quarter and below the Wall Street estimate of $987.34 million.
• Job Cuts and Restructuring: While Align has not disclosed specific layoff numbers, the company anticipates $30 million in severance expenses in Q4, indicating significant reductions or transfers as part of the restructuring.
• Industry Trends: CEO Joe Hogan cited a sluggish U.S. dental market, with consumers facing inflation and opting to defer non-essential healthcare expenses.

SEE ALSO: Layoffs in Canada: Which Employers are Slashing Staff?

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📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.

Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.

If you’ve lost your job at Align Technology for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.

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