Boston Scientific announces more layoffs
Boston Scientific said this morning that it is planning to cut more jobs, nearly doubling the restructuring it started in 2011.
The company expects the new round of cuts to range from 900 to 1,000 positions, including layoffs as well as the elimination of unfilled positions.
The job numbers were mentioned in the Massachusetts-based company's year-end financial results, released this morning.
The company said it had $7.2 billion in sales in 2012, a 5 percent decline from the previous year.
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Some of the biggest declines were in the company's interventional caridiology unit, that makes stents, and cardiac rhythym management division, which makes pacemakers and implantable defibrillators.
Boston Scientific has major operations in Maple Grove, Plymouth and Arden Hills, including stent operations and cardiac rhythm management. The company didn't identify where it plans to make the job cuts, but said the cuts would be worldwide
The company didn't identify specifically where it plans to make the job cuts, but said the cuts would be worldwide. It called the job eliminations an expansion on the 1,400 employee reduction it started in 2011.
It employs roughly 24,000 people worldwide, so total cuts could amount to 10 percent of the company's jobs.
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The Associated Press contributed to this report
The job numbers were mentioned in the Massachusetts-based company's year-end financial results, released this morning.
The company said it had 7.2 billion in sales in 2012, a five percent decline from the previous year.
Some of the biggest declines were in the company's interventional caridiology unit, that makes stents, and cardiac rhythym management division, which makes pacemakers and implantable defibrillators.
Boston Scientific has major operations in Maple Grove, Plymouth and Arden Hills, including stent operations and cardiac rhythm management.
The company didn't identify specifically where it plans to make the job cuts, but said the cuts would be worldwide. It called the job eliminations an expansion on the 1,400 employee reduction it started in 2011.
Tim Nelson, Minnesota Public Radio News.