3.2.11 | MassDevice Staff

Boston Scientific layoffs coming in cardiology medical device area

Boston Scientific Corp. (NYSE:BSX) reportedly plans to cut more jobs in its cardiology, rhythm and vascular unit, its biggest business, according to Thomson Reuters News, citing a source close to the medical device maker.

If true, the Natick, Mass.-based firm would be the second cardiac company in a week to announce layoffs. Medtronic Inc. (NYSE:MDT) said Feb. 22 it plans to eliminate about 2,000 jobs, paring its workforce by roughly 5 percent.

BSX shares are down about 2 percent this afternoon, falling $0.15 to $7.36 each after earlier sliding as low as $7.23 a share.

According to the Reuters report, chief medical officer Keith Dawkins told Boston Scientific employees today that the job cuts were necessary for the firm to remain competitive.

Boston Scientific ends year on a high note, braces for a difficult year (medcitynews.com)
Boston Scientific acquires atrial fibrillation device company Atritech (medcitynews.com)
Boston Scientific’s gloomy forecast unsettles Wall Street (medcitynews.com)

MassDevice Staff

The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.

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