Medtronic eliminating 2K jobs, including 500 in Minnesota

Author:
Updated:
Original:

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.

Next Up

0

Alleged drunk driver crashes into Chisago Co. deputy's squad car

The deputy was taken to the hospital afterwards.

Karl-Anthony Towns

Karl-Anthony Towns has lost 7 family members to COVID-19

The Timberwolves forward "hasn't been in a good place" since his mother died last April.

Leah Ottman, aka LOTT

Acclaimed Minneapolis violinist and singer Leah Ottman dies at 33

She also performed as LOTT, the name of her solo project.

Target gift card

Holiday shopping? Target gift cards are discounted this weekend

You have to be a Target Circle member, but that's free to join.

vote, vote now

MN Supreme Court dismisses attempt to block election certification

Another legal defeat for Republicans challenging the election.

prison, Rush City cell block

Another Minnesota prison inmate dies after COVID-19 diagnosis

The virus has killed at least six Minnesota inmates.

leech lake band of ojibwe sign

11,760 acres of land wrongly taken from Leech Lake Band of Ojibwe will be returned

The Senate and now the House have passed a bill that effectively returns the land. It's now headed for the president's signature.

Karl-Anthony Towns

Timberwolves release first half of 2020-21 regular season schedule

The second half of the schedule will be announced at a later date.

Related