Medtronic (NYSE:MDT) is reportedly planning an unspecified number of layoffs among the 1,300 workers it employs at its Medtronic Spine operation in Memphis.
“Medtronic operates in a highly competitive environment, and transformation is an inherent part of our business. We continually adjust as necessary to deliver operational and functional excellence, drive growth, and strengthen our position for the future in a highly dynamic healthcare industry,” spokesman Victor Rocha told the Memphis Commercial Appeal last week via email. “We recognize the strong work, dedication and quality of the employees. We are providing employee assistance to help reduce the effects of this action. The company is supporting employees as they transition to new employment opportunities.”
Medtronic Spine, which has about 5,600 workers globally according to the newspaper, posted sales of $657 million during the company’s fiscal 3rd quarter, up 3.3% compared with fiscal Q3 2016.
