Maybe waiting to see if SYK did it first???
Unfortunately this is not a surprise based on the past moves of this leadership team. You would think these jobs are needed if you are predicting growth returning back to the business OR…. Leadership has been playing a shell game and needs to keep up the illusion of profitability. Maybe fewer trips on the company jet, maybe cutting the spending on old and outdated products. Maybe we invest a bit of that ESG and DEI into making money.
How’s the business developing in China? I thought that was going to be our next wave to ride. That’s right. It’s a shit show too.