Another Axe Falls: Medtronic To Cut 1,100 Jobs
Make a commentBy Ed Silverman // May 6th, 2008 // 5:12 pm
We mostly write about drugmakers throwing people overboard, but today it is a devicemaker. The move comes after a protracted slowdown in sales of implanted cardiac defibrillators, which have been shrinking ever since Medtronic and its rivals recalled product three years ago. And last year, Medtronic halted sales of the thin wires that connect the heart to defibrillators after links to five deaths.
Medtronic, in fact, already began cutting back last year, a step that included trimming 900 jobs, The Minneapolis Star-Tribune reports. The latest job losses will hit R&D and manufacturing. For example, the company intends to move cardiac rhythm operations currently in the Netherlands to Minneapolis, the paper writes.
Leave a Comment