Why 3 spine devicemakers are laying off staff in 2023

Spinal Tech

Stryker, Medtronic and DePuy Spine all announced plans to lay off employees this year.

Stryker aimed to lay off more than 500 employees before the end of December, according to an April 19 WARN notice. The company is closing its Lakeland, Fla. facility, and layoffs at the company were already ongoing.

Medtronic was also planning layoffs and informed the state of California that it was laying off 59 employees from its facility in Sunnyvale. In a February earnings call, CEO Geoff Martha said the company would be going through significant cost reductions. Additional cost reduction solutions Medtronic has leveraged include limiting travel and slowing its hiring process.

In October, DePuy Spine, part of Johnson & Johnson's DePuy Synthes, said in a WARN notice that it is eliminating positions permanently at its Monument, Colo. The layoffs will begin toward the end of December, and 67 employees will be affected. The move comes shortly after reports that said Johnson & Johnson is restructuring its orthopedic business.

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