Medtronic Announces Job Cuts
July 28, 2016 at 4:25 p.m.
By Staff Report-
The Warsaw locations are responsible for making spinal implants.
Calls to Medtronic this morning weren't returned as of 11 a.m. today.[[In-content Ad]]The workforce reduction includes about 400 U.S. employees who accepted early retirement or voluntary separation agreements, and whose employment with the company will end by May 29.
Medtronic said it expects most cuts to be completed by June 30.
The company said it plans to add about 700 positions, primarily in sales and research and development functions, during the fiscal year. That will occur over the balance of this fiscal year, which lasts through the end of April 2010, a company press release said.
Between the planned job cuts and additions, Medtronic stands to lose a net 800 to 1,100 jobs.
Medtronic reported that fourth-quarter earnings dropped 69 percent.
The company recorded a $27 million restructuring charge in connection with planned job cuts.
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The Warsaw locations are responsible for making spinal implants.
Calls to Medtronic this morning weren't returned as of 11 a.m. today.[[In-content Ad]]The workforce reduction includes about 400 U.S. employees who accepted early retirement or voluntary separation agreements, and whose employment with the company will end by May 29.
Medtronic said it expects most cuts to be completed by June 30.
The company said it plans to add about 700 positions, primarily in sales and research and development functions, during the fiscal year. That will occur over the balance of this fiscal year, which lasts through the end of April 2010, a company press release said.
Between the planned job cuts and additions, Medtronic stands to lose a net 800 to 1,100 jobs.
Medtronic reported that fourth-quarter earnings dropped 69 percent.
The company recorded a $27 million restructuring charge in connection with planned job cuts.
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