Medtronic eliminating 2K jobs, including 500 in Minnesota


Medtronic Inc. intends to trim 2,000 positions from its global workforce, including about 500 jobs in Minnesota, as part of a restructuring plan, the Pioneer Press reports.

"We also currently have job postings online for around 130 positions in (Minnesota)," Cindy Resman wrote in an email to the newspaper Tuesday morning. "We are growing in some areas."

The Fridley-based medical device manufacturer announced the job reduction plan during its fourth-quarter earnings conference call on Tuesday.

Medtronic earned $969 million during the three month period that ended April 26, down 2.2 percent from $991 milliion a year earlier, according to the Wall Street Journal. Revenue rose 3.8 percent to $4.46 billion.

"These fourth quarter results were a strong finish to a solid fiscal year, and more importantly, represented another step toward our goal of delivering consistent and dependable growth, and I am proud of the performance of our entire global team," Omar Ishrak, Medtronic chairman and chief executive officer, said in a news release. "With our scale and breadth of innovative technology, Medtronic is clearly outperforming the market."

Earlier this month, Twin Cities Business reported that Medtronic was cutting 230 jobs worldwide from its struggling spine division.

Click here, to follow Medtronic's stock performance.

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