Boston Scientific Will Cut 1,100-1,500 Jobs Through 2015
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Boston Scientific Corp., the second-biggest maker of heart-rhythm aids, plans to eliminate as many as 1,500 more positions as the medical-device industry struggles with shrinking markets and development costs.
The job cuts, slated to take place through 2015, should reduce operating expenses before taxes by $150 million to $200 million, Natick, Massachusetts-based Boston Scientific said in a statement today. The move is part of the company’s plan to boost operating income margins to 25 percent from 19 percent now, Chief Executive Officer Mike Mahoney said.