Boston Scientific to cut up to 1,000 more jobs

11:04 AM, Jan 29, 2013   |    comments
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NATLICK, Mass. - Boston Scientific plans to cut as many as 1,000 additional jobs this year as the medical device maker expands a push to cut operating expenses.

A spokesman for the Natick, Mass., company says they haven't decided where the additional cuts will be made. Boston Scientific Corp. employs roughly 24,000 people worldwide. The company had already planned as many as 1,400 job cuts for the original restructuring plan that started in 2011.

Boston Scientific has a strong presence in the Twin Cities, employing about 4,500 people. There is no word yet if any of the planned 1,000 cuts will be in Minnesota.

The company also said Tuesday that its fourth-quarter net income shrank 44 percent to $60 million, or 4 cents per share, as it absorbed charges for restructuring and litigation. Not counting these charges, earnings were 18 cents per share.

Revenue slipped 1 percent to $1.82 billion.

Analysts forecast earnings of 11 cents per share on $1.76 billion in revenue.

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