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Boston Scientific Corp., the second- largest maker of implanted heart devices, plans to cut 1,200 to 1,400 jobs to trim annual costs by as much as $275 million.


     The reduction in the workforce will be completed by the end of 2013 and will include some attrition, the Natick, Massachusetts-based company said in a statement today.


Boston Scientific is based in Massachusetts but employs some 5,000 people in Minnesota.


A spokesman says the cuts will be achieved through employee attrition and targeted layoffs. He couldn't specify the impact in Minnesota and said that plans will be developed for each affected region and business segment. 

     Boston Scientific said second-quarter sales were little changed when revenue from sold businesses and a foreign-currency benefit were excluded. The company, which has been struggling with weak demand for its stents and defibrillators, is seeking a new chief executive after saying in May that Ray Elliott will step down from the post at the end of the year.


     Boston Scientific said profit this year will be 64 to 70 cents a share, compared with a previous forecast for as much as
68 cents. The device-maker also announced a stock repurchase program of as much as $1 billion.


     Boston Scientific has fallen 11 percent in New York Stock Exchange composite trading this year before today.

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The second- largest maker of implanted heart devices plans to cut 1,200 to 1,400 jobs.

Boston Scientific to cut 1,400 jobs by end of 2013

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