Boston Scientific Announces Restructuring Plan With Expected Job Cuts
Boston Scientific has announced a company-wide restructuring plan aimed at reducing costs and positioning the medical device maker for future growth. The initiative, approved by its board on July 21, includes supply chain optimization, production relocations between factories, and organizational changes. While some job losses are expected, hiring will continue in areas aligned with global market demand. The restructuring is projected to cost $700 million to $800 million before taxes, with about two-thirds of that amount paid out in cash. Once fully implemented by the end of 2029, Boston Scientific expects annual expense reductions of around $500 million, which will be reinvested into growth initiatives.
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Topics: cost optimization job cuts medical devices