The layoffs result from organizational restructuring to eliminate duplication of roles and combine the company's Memphis-based orthopedic reconstruction and trauma division with the endoscopy division based in Andover, Mass. The new division will be called Advanced Surgical Devices Division, according to the report.
The company's new business model will focus on investing in emerging markets where there is a potential for growth.
Related Articles on Orthopedic Devices:
Sanuwave's Technology Stimulates Adult Stem Cell Proliferation Within the Body
Baxter International Acquires Synovis for $325M
Stryker to Close Two Gaymar Industries Locations
Smith & Nephew Cuts 80 Jobs in Memphis for RestructuringWritten by Laura Miller | Wednesday, 14 December 2011 16:00
Smith & Nephew recently announced the company would cut 80 jobs at its orthopedics unit in Memphis, according to a Daily News report.
© Copyright ASC COMMUNICATIONS 2011. Interested in LINKING to or REPRINTING this content? View our policies here.