Biomet Confirms Layoffs in Near Future

Biomet Inc. has confirmed the cutting of up to 200 jobs when it reorganizes its global reconstructive business in effort to boost growth to above the market average. The effective date is Sept 1. According to the company, 21 jobs in the United States will be cut; the remainder of the cuts will come from Europe.

Biomet is also reviewing 99 positions in Great Britain for possible cuts “as a result of softness in the worldwide orthopedics market”, but this is apparently unrelated to the reorganization.

To increase manufacturing efficiency, the company will consider cutting up to 29 jobs in Bridgend, South Wales, and up to 70 positions in Swindon, England.

“These decisions have been very difficult ones for the management team to make,” a company statement read. “Where possible, the company will explore other options for these team members.”

Employees who cannot transfer will be paid severance and given outplacement assistance.

On July 12, Biomet reported a preliminary annual loss of $843.5 million for the fiscal year ended May 31, but the company remains optimistic.

“Biomet remains confident in the future of the orthopedics market and in its ability to compete in this market,” the company statement read. Biomet cited the aging population and demand for the types of products it manufactures as reasons for the positive perspective.

In a May 4 filing with the U.S. Securities & Exchange Commission, the company acknowledged the elimination of 450 positions globally but declined to say how many of those jobs were in based at the company’s Warsaw, Ind. headquarters.

According to company officials, future hirings will “more than offset” the job losses.