Medtronic says it plans more layoffs, declines to specify locations

Medtronic says it plans more layoffs, declines to specify locations

The company said it began notifying some employees on Tuesday, but would not confirm the number of positions or locations of the jobs that would be cut. Medtronic announced that it is letting go of some of its employees. An internal company email that the Minneapolis Star Tribune got on Tuesday was used to break the news of the layoffs. The business declined to reveal the precise number of affected positions in an email response to MedTech Dive. The Star Tribune reported Medtronic CEO Geoff Martha's email in which he stated that the effects of the reduction will vary "by team, region, and country." To counteract ongoing inflation and pressures from foreign currencies, Martha stated during a February earnings call that Medtronic planned to make "significant" cost reductions. The business intends to decrease its full-time global workforce, according to a statement from Medtronic spokesperson Erika Winkels, which was sent to media via email. The medical device business currently has offices in Minneapolis and Dublin.

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