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.
Transforming Clinical Content with Ambient & Generative AI
Sheila Bond, MD, talked about the latest trends regarding integration of AI in healthcare.
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.
Related articles
- 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)
Integrating GLP-1s: How Berry Street is Redefining Nutrition Care
Richard Fu details the company's approach to nutrition therapy and strategy for patients using GLP-1s.
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.
This post appears through the MedCity Influencers program. Anyone can publish their perspective on business and innovation in healthcare on MedCity News through MedCity Influencers. Click here to find out how.