Medtronic, Inc. (MDT) to Lay Off 1,000
5/22/2012 8:47:46 AM
Fridley-based Medtronic is eliminating about 1,000 jobs, a total that includes about 220 positions in its Mounds View-based division for heart rhythm devices. Medtronic officials disclosed the 1,000-job figure on Tuesday, May 22, as part of the medical device company's release of fourth-quarter financial results. The company previously confirmed the 220 job cuts in Mounds View. It was unclear exactly where the remaining 780 or so job cuts would be focused. "We are eliminating about 1,000 positions around the company and around the globe," said Gary Ellis, the company's chief financial officer, in an interview Tuesday. "It's kind of the normal, ongoing thing that goes forward as we shift resources from slower-growing markets to faster-growing markets."