Medtronic takes $87M charge to cover U.S. layoff costs

Medtronic ($MDT) will take an $87 million charge to cover 250 layoffs in Minneapolis--St. Paul, MedCity News reports, citing highlights from the company's fourth-quarter financial report. The job realignment is part of an ongoing initiative that also includes about 750 job cuts globally through fiscal 2013, possibly in the company's struggling cardiac rhythm disease management and spine divisions, the story speculates. On the other hand, another 1,500 positions will be added in emerging markets where demand is contributing to rapid growth. Story


Suggested Articles

Spinal Elements, maker of a wide range of implants and products for minimally invasive spine procedures, has filed a $100 million IPO.

United Airlines will begin providing COVID-19 screening tests for passengers, allowing those who test negative to skip local quarantine requirements.

Babson Diagnostics has closed its series A funding round with a total of $13.7 million and named a new CEO.