Osstem Implant's headquarters in Gangseo-gu, Seoul (Newsis) Following the Homeplus debacle, MBK Partners has come under fresh scrutiny over restructuring efforts at its portfolio company Osstem Implant, the country's largest dental manufacturer.Osstem Implant has reportedly been carrying out a de facto restructuring under which some employees are relieved of their existing duties and required to find new positions within the company on their own. Those who fail to secure a new role are reportedly placed on waiting-for-reassignment status until another position is determined.Employees claim the company is effectively forcing workers out through another round of restructuring after having cut roughly 20 percent of its workforce last year in the name of improving operational efficiency.Osstem Implant dismissed allegations that the move was part of a restructuring exercise, saying it was simply a job reassignment initiative. It also said that the initiative is aimed at strengthening operational efficiency and enabling a more proactive response to rapidly changing global market conditions."We are providing job reassignment training for a limited number of employees whose roles need to change following the company's business realignment," the company said.With Osstem Implant being part of MBK Partners' portfolio, some fear it could face a fate similar to Homeplus, whose financial troubles have fueled criticism of the private equity firm's management practices.Homeplus, once one of the country's leading hypermarket chains, is now under court-supervised rehabilitation.MBK Partners acquired a 96.1 percent stake in Osstem Implant for about 2.5 trillion won ($1.7 billion) in 2023, joining hands with private equity fund Unison Capital Korea. UCK is a major private equity player here backed by its Japanese head office.The takeover came as Osstem Implant was struggling with the fallout from an embezzlement scandal, as well as erroneous business reports and a product recall order from China.In recent years, Osstem Implant has faced mounting pressure amid weakening earnings, particularly as its business in China has struggled. The company's consolidated operating profit fell by half to 80 billion won last year from 160 billion won a year earlier.Dividend payouts, however, increased sharply to 100.1 billion won last year, up from 8.6 billion won in 2021 and 3.2 billion won in 2022 before the acquisition. An additional 39.2 billion won was paid out in March this year.MBK Partners denied having direct control over the company's management decisions."MBK Partners is a shareholder of Osstem Implant, not its owner. The matter falls under the business judgment of the company's management," the firm said.