Melville-based Henry Schein has instituted layoffs as well as other cost-saving measures in response to the Covid-19 epidemic, the company said Tuesday.
The cuts include job reductions, furloughs, reduced work hours, voluntary unpaid time off and suspension of the 401(k) match. Last month, senior executives at the medical equipment company took hefty pay cuts.
“Due to the speed and severity of the COVID-19 health care and related economic crisis, this is one of the most trying moments in modern history for everyone,” said Stanley Bergman, CEO and chairman of the board.
In releasing first-quarter results, the company reported net sales for the quarter ended March 28 were $2.4 billion, an increase of 2.9% compared with the first quarter of 2019. The 2.9% increase consisted of 4.0% growth in local currencies and a 1.1% decline related to foreign currency exchange. In local currencies, internally generated sales increased 2.1% and acquisition growth was 1.9 %.
With school districts closed for the remainder of the term, bus companies, including Bauman, Brookset and Acme, have notified the state of layoff plans. Companies with 50 or more employers are required to alert the state if they plan to close or lay off workers under the Worker Adjustment and Retraining Notification Act.
Companies that have notified the state recently of plans to close or lay off workers.