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Boston is set to slash up to 12% of workforce

This article was originally published in Clinica

Executive Summary

Wall Street analysts have forecast that Boston Scientific is about to make thousands of job cuts as a response to falling sales. In a report in the Boston Globe, analysts said that the Natick, Massachusetts firm is about to lay-off between 2,000 and 3,400 employees to bring it in line with revenue expectations. Boston, whose current workforce totals 28,000 employees, seems prepared to take drastic measures to turn around its fortunes in the drug-coated stent and defibrillator markets. The company has witnessed falling product sales, due to poor market conditions and a heavy debt from its $27bn purchase of Guidant last year, as well as a series of FDA warning letters.

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