The company reported $3.961 billion in revenue for the third quarter. It intends to reduce its workforce by 4-5 percent through cost-saving measures that include tighter expense management and voluntary programs to minimize layoffs.
The company is making these changes “to position Medtronic for long-term sustainable growth,” according to the release.
Read the news release on the restructuring of Medtronic.
Read other coverage on Medtronic:
– Medtronic Receives First FDA Clearnce in Pediatric AIS Category for CD Horizon Spinal System
– Medtronic’s CEO to Retire Next April
– Medtronic Launches KYPHON Express Curette
