Boston Scientific Plans Job Cuts, 4Q Profit Falls

By: AP Email
By: AP Email

Boston Scientific plans to cut as many as 1,000 additional jobs this year as the medical device maker expands a push to cut operating expenses.

A spokesman for the Natick, Mass., company says they haven't decided where the additional cuts will be made. Boston Scientific Corp. employs roughly 24,000 people worldwide. The company had already planned as many as 1,400 job cuts for the original restructuring plan that started in 2011.

The company also said Tuesday that its fourth-quarter net income shrank 44 percent to $60 million, or 4 cents per share, as it absorbed charges for restructuring and litigation. Not counting these charges, earnings were 18 cents per share.

Revenue slipped 1 percent to $1.82 billion.

Analysts forecast earnings of 11 cents per share on $1.76 billion in revenue.


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