MASSDEVICE ON CALL — Medical device industry titan Medtronic (NYSE:MDT) is going to lay off about 4% of its spinal business workforce, corresponding with prior reports of coming cuts for that division.
The cuts should amount to 230 employees worldwide, according to Twin Cities Business. Medtronic’s spinal division has about 5,600 employees total.
Company spokeswoman Cindy Resman told reporters that Medtronic is still hiring for its spinal business, with more than 450 openings posted online.
The layoffs are part of the company’s larger efforts to cut overall costs by 5% through a variety of actions, including "targeted employee reductions in certain business functions and locations," Resman told MassDevice.com last month.
"Like most companies, we will continue to evaluate our markets and organization structure to look at areas where efficiency can be improved throughout our business," Resman noted. "This may require us to shift resources from low growth to high growth areas to optimize performance and are a normal course of business for any organization."
It wouldn’t be the 1st time Medtronic’s spinal workers have been on the chopping block. Around the same time last year the company reported sluggish growth in its spinal and cardiac rhythm management units, and warned that workforce cuts may be on the way.
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