Boston Scientific Announces Restructuring Plan with Expected Job Cuts
Boston Scientific has announced a global restructuring initiative aimed at achieving sustained cost efficiencies while supporting continued growth, which will include headcount reductions. The plan involves supply chain optimization and organizational changes expected to be completed by the end of 2029. The company expects total costs between $700 million and $800 million for this effort, with up to $600 million in future cash outlays. Boston Scientific anticipates annual pre-tax expense reductions of approximately $500 million once benefits are realized. The restructuring is expected to result in job cuts, though specific numbers have not been disclosed. Boston Scientific's shares rose on the news as investors reacted positively to its cost-cutting strategy and long-term efficiency goals.
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