Medtronic, Inc. Discloses Additional Job Cuts

A previously disclosed restructuring plan to cut 550 jobs from Medtronic Inc.'s cardiac-rhythm-disease-management division will include additional job reductions in other divisions, the company said Wednesday. The Fridley-based medical-device maker said in a regulatory filing Wednesday that it expects a total of 900 job cuts - including the previously disclosed 550 CRDM positions - by April. The higher number includes job losses at the company's California-based vascular business, as well as cuts from a unit in Washington state that makes automated external defibrillators, said Tim Nelson, an analyst with Piper Jaffray in Minneapolis. In June, Medtronic said the 550 job cuts in the CRDM division - including 150 in Minnesota - were needed due to a slowdown in sales of its implantable cardiac defibrillators. The cuts include a mix of retirements, voluntary separations and layoffs.
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