Layoffs reported at Boston Scientific
Boston Scientific employees are reporting a round of layoffs at the company on Tuesday.
Last month the medical device maker said it would be cutting up to 1,300 workers from its payroll as part of a company-wide restructuring.
It's unclear how many of the device maker's 5,000 Twin Cities workers are receiving pink slips as a result.
A company spokesman could not be reached for comment.
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As part of the restructuring, Boston Scientific is combining business units in Arden Hills and Maple Grove into one group.
Analyst Tim Nelson with FAF Advisors says that will likely mean steep local layoffs -- more than 500.
"Given the fact that they are combining two divisions that are here, and some of those layoffs that are coming out of synergies that result from that combination process, you would certainly expect it to be a significant number," Nelson said.
Meanwhile, Boston Scientific is still losing sales because it stopped selling implantable defibrillators to clear up a regulatory problem.