News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Boston Scientific Corporation (BSX) Prepares Job Cuts, Split of Heart Units


8/29/2012 2:11:46 PM

Minneapolis / St. Paul Business Journal by Ed Stych, Web Producer

Boston Scientific Corp. is planning to cut more jobs, according to a report.

Reuters reported Wednesday, citing an unnamed source, that layoffs are expected to be announced in the next two months. The news was given to employees in a recent letter, but there were no specifics on the number of layoffs.

A spokesman for Boston Scientific (NYSE: BSX) told Reuters that some job cuts would result from manufacturing adjustments in the United States and internationally, but he did not provide numbers or details.

Boston Scientific cut about 1,400 jobs last year.

Meanwhile, the company also said that it was separating its cardiac rhythm management unit, which makes pacemakers and implantable defibrillators, from its division that makes stents.

The units, both of which are based in the Twin Cities, were combined three years ago. The CEO at the time, Ray Elliott, expected the divisions to benefit from a shared sales force, Reuters reported. The company spokesman couldn't say why the units were being separated.

Boston Scientific is based in Natick, Mass., but it has major operations in Arden Hills and Maple Grove. It employs about 4,500 people in the Twin Cities area.


Read at Reuters
Read at Barron's Online
Read at Street Insider
Read at Fox News
Read at News Release

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES