Sonova Advanced Bionics Confirms Job Cuts Due to Recall

The Wall Street Journal has a short article confirming that Sonova Advanced Bionics has “accelerated its cost cutting program, which includes job cuts, after its U.S. unit Advanced Bionics had to recall an implant product late last year.”

production and implanting of Advanced Bionics HiRes 90K has been stopped

According to the Wall Street Journal article

“Analysts say the recall could result in a sales drop of around 60 million francs, or around $62.5 million, should the products be off the market for around six months. Sonova has annual sales of about 1.5 billion francs.”

Sonova Accelerates Cost Cuts After Hearing Aid Recall

http://online.wsj.com/article/BT-CO-20110118-707477.html

Information on the most recent recall of Sovona Advanced Bionics HiRes 90K cochlear implant due to failing hot

https://handeyes.wordpress.com/2010/11/24/sonovas-shares-shake-and-ag-bell-quakes-or-rattles-and-rolls/

Information on the recall and possible causes of the CI failing – includes primary documents: The Hearing Blog

http://thehearingblog.com/archives/54

http://thehearingblog.com/archives/65

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5 Comments (+add yours?)

  1. Trackback: Breaking News re: Sovona’s Advanced Bionics « PEOPLE OF THE EYE -…first, last, and all the time” – g. veditz 1910
  2. Dan Schwartz
    Jan 20, 2011 @ 06:01:24

    http://thehearingblog.com/archives/138
    follow this story Friday 1/14/2011 at 11:15PM; and was picked up by the news services, including Goran Mijuk, who is the Zurich Editor for Dow Jones/Wall Street Journal.

    Normally, I do not like to post an entire article; but since the financial health of this cochlear implant manufacturer is vitally important to the readers who have this device wired into their skulls, it is vitally important that they have full disclosure.

    NOTE: Patti here – i have cut out part of the article because im not sure if its kosher to reproduce here in full – folks have the link above and the partial – if i learn its ok to reproduce here in full then ill add the bottom paragraphs

    Here is the entire text of the article:

    Sonova Accelerates Cost Cuts After Hearing Aid Recall

    JANUARY 18, 2011, 8:43 A.M. ET

    By Goran Mijuk
    Of DOW JONES NEWSWIRES

    ZURICH (Dow Jones)–Swiss hearing aid maker Sonova Holding AG (SOON.VX) said Tuesday that it has accelerated its cost cutting program, which includes job cuts, after its U.S. unit Advanced Bionics had to recall an implant product late last year.

    “As part of the integration of Advanced Bionics and the related program, an alignment of the cost structure has always been planned,” Sonova spokesman Holger Schimanke told Dow Jones Newswires, adding: “The recall has accelerated these measures.”

    Sonova declined to comment on the size of the job cuts but Schimanke said that the cost alignment “also includes staff costs.” According to the website http://www.thehearingblog.com, “slightly more than 100 jobs” are affected by the cost cutting plan.

    Sonova declined to say how many people work for Advanced Bionics, saying its overall staff base currently stood at around 7,200. When Sonova took over the U.S. company in 2009, Advanced Bionics was reported to have around 660 staff.

    ADDED: to see full article – go to the WSJ link above

  3. handeyes
    Jan 20, 2011 @ 13:09:43

    Thank you Dan

    I hope you will also put the article up at The Hearing Blog
    ADDED: if u do put it up in full – pls link us here

    not sure if its kosher to have it in full up here so if i learn its not cool i will remove the comment ADDED: i just chopped off a few of the bottom paragraphs in the WSJ articles – if learn its ok to reprint in full will add those back. yes, im a stickler for doing right

    i see u, dan, got some crap by folks who try to suppress the truth or prefer having their heads buried in the sand and want u to keep urs low too.

    Thanks for standing strong. I see how they sung it in that CI chat room – oy! Not cool.

    Since when does someone bringing real documents and facts into the light of day make someone a “terrorist.”

    wow – seems some folks dont watch the news and didnt see EVERYbody calling for us to cut it out with the vitriol rhetoric

    “terrorist” ???? really because u r exercising the 1st amendment right to free speech and u r NOT engaging in libel or slander or defamation (like they just did over there)

    the truth be toxic for some

    and as u noted – the folks with and/or the parents of children with Advanced Bionic HiRes 90K really need to know what is going down

    if i drove a Toyota and wasnt experiencing any break problems but learned: “accelerated its cost cutting program, which includes job cuts, after its U.S. unit Advanced Bionics had to recall an implant product late last year.”

    i would still wanna have all the info cuz its not as simple as driving the car into the shop

    peace

    patti

  4. Colin Piotrowski
    Feb 16, 2011 @ 04:36:34

    Patti! My dear Patti!
    How r u? I LOVE your website!! FYI, I’m doing a Master’s Thesis on “..71% of American Families do not Sign with their Deaf Child and (how to turn this around)” something like that. I just started and your blogs and info are VERY helpful you have no idea! Especially the part on C.I. companies getting the heat for their dirty agendas (kickback, health risks etc). Right now I’m trying to connect failure to provide info or misleading info on ASL provided by audiologist, med professionals etc to the parents. Audiologists’ lack of understanding on ASL and Deaf culture, blahblah you know what I’m saying – that contributed to families not signing and screwing up deaf kids’ education.

    Anyway so please do keep me posted of new findings, if any!! Actually I should be paying you for those info! haha! I actually thought it would be very difficult to research and find the info I need to shed light on those companies *poof* you just dropped those info into my laps. You’re my angel.

    One day I hope to make this into a new law..something like Deaf Culture Protection Act. I really can see it in our lifetime.

    Hope all is well with you? David says Hiii P.S. thanks for all the donations! I no longer work as Finance Chair of Deafhood Foundation as of last month (so I can focus on this thesis) but I’ve seen your checks so thank you!

    hugs,
    Colin

  5. handeyes
    Feb 16, 2011 @ 16:27:09

    Heye Colin –

    Glad u will find the info helpful. I know that i did see once somewhere something about language delay as being a sign of an ineffective CI – something to watch out for for parents to alert them if CI not working properly or possible use for law suits

    so that is another area to look into in ur research – since CIs are often coupled with oral/aural-only mandates by practionaires but there is no proof that signing with a child DETERS their language development while there is some proof that failing to give a child a fully natural and accessible language DOES – there is a conflict there. especially if irony above irony – if the MUST BE oral/aural-only is not only a fallacy but also a liability – wow

    i cant remember where i saw that “warning sign” that a CI might not be working if child is not learning words / sounds at an appropriate rate

    there is some significant concern even by folks within the field (doctors etc) about the effectiveness and reliability of CIs vs efficacy – see Dr. Pisoni and how instead of aiding language development, it may be deterring or hurting it

    this might also be of interest:
    Recent research findings show:
    from http://www.ntid.rit.edu/news/deaf-education-new-philosophy

    * The deaf students who perform best academically usually are the ones whose parents have effectively communicated with them from an early age.
    * Children who sign early on generally outperform those who do not sign during their early school years.
    * Early language skills-both American Sign Language and spoken language- correlate with reading ability, with no evidence that one is necessarily better than the other.
    * Most deaf students’ difficulties in reading are mirrored by difficulties in understanding sign language.
    * Deaf and hard-of-hearing children entering school often are lagging behind hearing children in their knowledge of the world, number concepts, and problem-solving skills, not just in language.
    * Deaf students do not always learn, think, or know in the same ways as hearing children

    re: Deaf Culture Protection Act – we definitely need one.

    re: David – big hi & hug back

    peace,

    patti

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