May 31, 2023

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Medtronic cutting jobs after CEO promises 'significant cost reductions'

<Medtronic (NYSE: MDT) on Tuesday began informing employees of layoffs amid a push by the medical technology giant for “significant expense reductions.”

The company, which is legally based in Ireland but has its executive offices in Minnesota, didn’t disclose the number of layoffs or detail which business units would be affected. In an email to employees, CEO Geoff Martha said the cuts would “vary by team, region and country.”

A spokesperson for Medtronic said the cuts follow a decision “to reduce…

Mark Reilly

2023-04-18 14:49:34

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