Alcon Plans to Cut 2% of Its Global Workforce to Reduce Costs

Alcon Plans to Cut 2% of Its Global Workforce to Reduce Costs

December 06, 2022

Swiss eye care group Alcon is reportedly laying off 2% of its global workforce, including employees in Fort Worth, as part of a multiyear cost-cutting strategy. The company did not provide further information about the jobs involved.

According to a regulatory filing, Alcon had a total of 24,389 employees worldwide at the end of last year. 2% of this number would correspond to approximately 480 workers.                                 

“While we do not publicly disclose this information by site or city, overall there was a reduction of approximately 2% of our employees worldwide. We also eliminated vacant roles where possible,” spokesman Steven Smith said in an emailed statement, media sources reported.                         

Alcon has reportedly notified employees in the U.S. that they will be laid off.

Last month, the company announced that it expects incremental run-rate savings of approximately $100 million to improve efficiency. The incremental savings will be used to help offset the negative impacts of macroeconomic headwinds. The cost-cutting plan will continue until the end of 2023.

According to its financial statement in November, Alcon lowered its 2022 net sales outlook to $8.5 billion from $8.7 billion, down from $8.6 billion to $8.8 billion in August. Additionally, the company also narrowed its diluted EPS range for the year to $2.20-$2.25 from $2.20-$2.30 in August.