Boston Scientific to eliminate 1,000 more jobs worldwide
Boston Scientific Corp., a major Twin Cities employer, plans to trim its global workforce by another 900 to 1,000 jobs in 2013, Reuters reports.
This comes on top of the restructuring plan started in 2011 to cut up to 1,400 jobs by the end of 2013.
The Business Journal says the struggling Massachusetts-based medical device maker has roughly 5,000 employees in the Twin Cities with operations in Maple Grove, Plymouth and Arden Hills, but it's unclear how many positions -- if any -- will be cut in Minnesota.
The news of more job eliminations came after Boston Scientific reported its fourth-quarter net income fell 44 percent from the same quarter a year ago to $60 million, Bloomberg News reports.
"We are pleased but not satisfied with our improved performance in the quarter," CEO Mike Mahoney said in a news release. "I am confident we are taking the critical steps that are needed to return our company to long-term growth."
The Associated Press notes Boston Scientific is dealing with a new medical device tax part of the Affordable Care Act and pressure to cut prices on its products in other countries.
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