Given a decline in sales, Zebra Technologies plans to lay off 7 per cent of its workforce. The decision will impact 700 employees globally. The layoff will be carried out through the company’s buyout scheme or ‘voluntary retirement plan.
The move will help this manufacturer of bar-code readers and printers utilise its resources for operational tasks and realign its priorities to build overall business resilience for the future.
It is reported that the business is currently confronting uncertainties and a complex business atmosphere. Therefore, these measures had to be resorted to. The firm also clarifies that the layoffs are solely implemented due to reduced sales pace, subsequent to a surge during the pandemic period.
The company, which has a presence in about 120 countries, reportedly has a total headcount of 10,500 employees globally. Of these, 1,200 are employed in its Lincolnshire headquarters. Where exactly the layoffs will take place is yet to be known.
Zebra Technologies specialises in technology designed for real-time sensing, analysis and response, often referred to as intelligent data capture. Its product range encompasses mobile computers, tablets, software, thermal barcode label and receipt printers, and so on.
The company is anticipating a decline in its revenue by 30 to 35 per cent in the third quarter. Additionally, the company expects its overall sales to be approximately 20 to 23 per cent lower, by the end of this year.
Throughout the pandemic, Zebra experienced robust growth due to the adoption of its handheld computers and barcode equipment by various retailers. In December 2021, the company’s stock price surged to nearly $600 per share, marking an increase of over threefold.
Value our content... contribute towards our growth. Even a small contribution a month would be of great help for us.
Since eight years, we have been serving the industry through daily news and stories. Our content is free for all and we plan to keep it that way.
Support HRKatha. Pay Here (All it takes is a minute)
