Medtronic (NYSE:MDT) is laying off some 40 workers in its Minnesota home base, the medical device company told the Minnesota Dept. of Employment & Economic Development in April.
The cuts, revealed by the DEED in a Minnesota Dislocated Worker Program report for June, are slated for Medtronic’s Fridley, Minn., headquarters and for its cardiac rhythm management and structural heart divisions based in Mounds View, Minn.
Medtronic spokeswoman Cindy Resman told MassDevice.com via email today that the cuts are related to a $10 million restructuring charge announced in May, when the company released its 4th-quarter and full fiscal year results.
Although the company has had to make some organizational changes, Resman wrote, Medtronic’s employee base has actually gowrn 1% overall, to 49,000 employees worldwide as of April 25, compared with 46,000 as of April 26, 2013.
Since 2004, according to the DEED report, Medtronic has laid off some 1,488 workers in the Land of 10,000 Lakes; but its overall workforce has grown 58.1%, from 31,000 employees as of April 30, 2004, according to regulatory filings.