Medtronic cuts costs
This article was originally published in The Gray Sheet
Executive Summary
Planned elimination of 900 positions is part of an ongoing restructuring effort aimed at saving $125 million annually and is expected to be complete by next April, the firm discloses in a Sept. 5 10-Q filing with the Securities and Exchange Commission. The reductions in force, of which about 350 had been achieved as of July 27, will include early retirements, and voluntary and involuntary separations. The effort, which began earlier this year, includes driving manufacturing efficiencies in the firm's cardiovascular business, downsizing its Physio-Control external defibrillator unit and rebalancing resources in its cardiac rhythm disease management business "in response to current market dynamics," the firm explains (1"The Gray Sheet" Aug. 27, 2007, p. 4)...
You may also be interested in...
Medtronic Prestige Cervical Disc Rollout Marks 800 Surgeons Trained To Date
Medtronic has trained over 800 surgeons to date on the use of its Prestige artificial cervical disc and will train 200 more each weekend "for the next several weeks," the firm reported Aug. 21 during its fiscal 2008 first quarter earnings call
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.