|St. Jude CEO Daniel Starks|
The second shift at St. Jude Medical's ($STJ) cardiology device manufacturing facility in Sylmar, a suburb of Los Angeles, is being eliminated, resulting in the loss of up 270 jobs. The layoffs will take effect July 28, reports the San Fernando Valley Business Journal.
"We are working to ensure a smooth and respectful process for all employees and to support them during their employment transition," said company spokesperson, Micki Sievwright, in the article.
The latest restructuring involves the integration of St. Jude's implantable electronic systems and cardiovascular and ablation technologies divisions. During the January 2014 integration announcement, CEO Daniel Starks said in a statement, "One reason 2013 was such a successful year for us was that we streamlined our organization, improved productivity, and reduced costs through organizational changes we announced in August 2012. The changes we announced today will help us build on that success to further leverage our scale, align on our highest priorities and improve execution of our long-term growth program."
The Sylmar facility produces implantable defibrillators and pacemakers, and was hit by 200 layoffs in 2012 as well.
On July 16, St. Jude reported net sales $1.45 billion in Q2 2014, a 3% increase year-over-year.
- read the San Fernando Valley Business Journal article