Boston Scientific (NYSE:BSX) today filed an SEC Form 8-K outlining a new restructuring plan that includes likely headcount reductions.
The company said its board of directors approved its new 2026 global restructuring plan on July 21. It aims to drive sustained cost efficiencies and enable continued growth. Boston Scientific said the measures ensure that the company remains structured and resourced to support its strategic priorities.
According to the SEC filing, the company expects to eliminate some positions as part of its restructuring plan.
“While new jobs are created in areas of growth and resources are deployed to support the company’s portfolio and global market needs, the company does expect some headcount reductions to result from these restructuring activities,” the filing said.
More about the planned restructuring at Boston Scientific
Boston Scientific did not disclose how many positions may be affected or where those positions may be located. (MassDevice checked WARN listings in states in which Boston Scientific has a presence, such as Massachusetts, Minnesota and California, and the company has not yet legally listed any planned reductions.)
Any headcount reductions would follow previous cuts from the company that included 120 jobs in Texas and 52 jobs in California in 2023. MassDevice tracked medtech layoffs for several years — see the list of which companies made cuts here.
Boston Scientific expects pre-tax charges of approximately $700 million to $800 million from its restructuring. Of that, it expects approximately $600 million to $700 million to result in future cash outlays. This should reduce gross annual pre-tax expenses by approximately $500 million.
The company expects to optimize its supply chain, which includes transferring certain production lines among facilities, targeted functional transformation and organizational structure evolution. It plans to launch these activities in 2026 and substantially complete them by the end of 2029.
Boston Scientific’s cost-cutting measures come as the company continues to spend in the M&A market. That includes two deals this year. It completed its deal to buy Valencia Technologies for an undisclosed amount in April. It is working to complete its $14.5 billion acquisition of Penumbra.
