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St Jude swings axe with reorganisation; savings should help ease device tax pressures

This article was originally published in Clinica

Executive Summary

St Jude Medical is cutting around 300 jobs as part of its plan to reorganise its business into two operating units in a bid to spur growth. The restructuring will enable the firm to shave off $50-60m a year from its pre-tax operating expenses, starting 2013 when the tax on US medical device sales comes into effect.

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