Boston Scientific
(NYSE: BSX)
filed its intention to reduce its workforce amid a California facility closure.
The facility closure means a reduction of 52 jobs, adding to the 120 positions cut in Texas earlier this year.
This marks the latest round of layoffs in medtech as the industry attempts to navigate difficult economic conditions. MassDevice has reported on more than 18,000 medtech workers let go across the industry since mid-2022. (Have a tip about layoffs at your company or within the industry? Let us know.)
It’s worth noting that Boston Scientific overall has been hiring. It’s arguably a success story in the medical device industry.
Boston Scientific filed in California to notify the state of its plans to close its facility in Fremont, California. According to the WARN notice, the company reported its permanent closure on June 12. The state received the notice on July 17. Boston Scientific’s closure and reduction goes into effect on Aug. 11.
According to a company spokesperson, the closure comes amid a transfer of work currently performed at the Fremont location. Boston Scientific is moving work on the Wolf Thrombectomy platform to a facility in Minnesota. Wolf Thrombectomy came to Boston Scientific through its $269 million acquisition of Devoro Medical in September 2021.
In a statement, Boston Scientific said it initially informed employees of the intent to transfer this work in November 2021. This came amid the close of the Devoro Medical acquisition. Employees affected by the transfer will be given a 60-day notice and will be supported with transition assistance, the statement said.
“Transferring work among our facilities helps us align our products, capabilities, technologies and resources to best support our business strategies, meet market demands and improve our operating performance while delivering value, along with life-changing medical solutions, to our customers and their patients,” the company statement reads.
