Medtronic to Cut 5% of Workforce, Renew Effort to Sell Unit
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Medtronic Inc. said it will cut 1,500 to 2,000 jobs and renew efforts to divest a unit that makes external defibrillators that shock a heart into normal rhythm as sales of implanted devices continue to stagnate.
The company will cut 4 percent to 5 percent of its employees with voluntary programs and layoffs, Minneapolis-based Medtronic said in a statement. It also revived plans to sell or spin off the Physio-Control Inc. unit that makes emergency response gear and portable heart devices three years after quality issues led the company to halt sales.