Wednesday, February 17, 2010 5:43 AM
Restructuring on Full Steam at Boston Scientific
The Natick, MA-based company has dealt with losses, lay-offs, suits being settled, and negative study data in the past weeks.
Last week, Boston Scientific announced a fourth-quarter loss of $1.1 billion, mainly contributed by the $1.73 billion settlement that the company made earlier this month to rival Johnson & Johnson, for a seven-year dispute over drug-coated cardiovascular stents. The company soon announced that it would cut as much as 10 percent of its workforce (nearly 1,300 jobs) to reduce operating expenses. This follows similar moves made by others in the industry including Medtronic, who las more...
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