The company makes knee and hip joint replacements, plating systems and trauma products at the Memphis facility.
Smith+Nephew put the 300,000-square-foot campus up for sale in September.
The company has not specified when the layoffs will take place, the report said.
Three major investors in Smith+Nephew encouraged the company to consider breaking up parts of its business and spinning off its orthopedics division last month.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.