You need to wrap your head around this macro trend. Technology is a relentless driver of business efficiency. Companies no longer need to hire more people to grow their business and generate more sales.
Technology enables companies to be more productive with less employees. A great example is the S&P 500 list. Look at the number of employees needed to contribute and additional $1M in sales in these companies.
Back to orthopedics.
It seems like there are a ton of ortho people out of work or in transition today… but fewer ortho jobs open.
Yes, it’s true. And for both large public Orthos and small Orthos alike.
Case in point is Zimmer. By analyzing public records, it is evident that Zimmer has learned how to do more work with less people.
Zimmer Biomet total number of employees in 2022 was 18,000, a 7.69% decline from 2021.
Zimmer Biomet total number of employees in 2021 was 19,500, a 2.5% decline from 2020.
Zimmer Biomet total number of employees in 2020 was 20,000, a 0.5% increase from 2019.
Zimmer Biomet total number of employees in 2019 was 19,900, a 4.74% increase from 2018.
