Boston Scientific Corp. is cutting costs after several years of disappointing financials.
The Marlborough, Mass.-based medical-device maker has announced a global restructuring program that is expected to reduce annual pre-tax operating costs by $115 million to $150 million. Boston Scientific did not disclose how exactly it would cut costs or how many workers could be laid off as a result of restructuring.
The company did say that it expects to incur roughly $175 million to $225 million in costs related to the restructuring process and that several actions will be taken immediately. All other restructuring activities will be completed by the end of 2018, subject to any employee-related conditions required under local laws.
Some empl…
Read the full article at: http://www.modernhealthcare.com/article/20160609/NEWS/160609907