Hearing health

Cost reduction plan costs CEO job at US-based Eargo

More than one-third of staff at the US-based hearing aid manufacturer is affected by the large-scale cost-cutting exercise.
Christian Gormsen has led US hearing aid manufacturer Eargo since 2016, but is now leaving the company. | Photo: Eargo / Pr
Christian Gormsen has led US hearing aid manufacturer Eargo since 2016, but is now leaving the company. | Photo: Eargo / Pr
by TORBEN SALOMONSEN

A number of drastic steps are being taken to optimize the entire cost base at California-based hearing aid manufacturer Eargo.

Costs must be reduced and the entire business model is facing major changes for the rest of 2023, which also affects the Danish CEO, Christian Gormsen, according to an announcement.

Gormsen will thus resign from his role as CEO and board member of the company as of June 30. He has been in the position since the summer of 2016 and was previously CEO of GN.

Along with him, 90-120 other employees in Eargo will be affected, representing up to 42% of the workforce. In the announcement, it is emphasized that the break with the Danish CEO will be undramatic.

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