Medtronic Plans Company-Wide Layoffs, Restarts Physio-Control Divestiture
This article was originally published in The Gray Sheet
Executive SummaryMedtronic plans to lay off 4%-5% of its workforce to cut costs and will renew efforts to divest its Physio-Control automated external defibrillator business, the firm announced Feb. 22 in conjunction with its fiscal third-quarter financial results.
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Five years after Medtronic said it was interested in unloading Physio-Control, private equity firm Bain Capital will acquire the emergency-response device unit, for the second time in 20 years.