Boston Scientific shakeup: Layoffs and restructuring ahead for cardiac business
Medical device giant Boston Scientific expects an untold number of layoffs in the next few months and the company will its cardiac device businesses into separate CRM and stent divisions.
Medtech titan Boston Scientific  (NYSE:BSX ) is making some big moves in the next few months, including some new rounds of layoffs and the halving of its cardiac devices business, Reuters reported.
The news was leaked by an anonymous Boston Scientific employee and later confirmed by a company spokesperson, who noted that the layoffs and the cardiac division split are not related.
Layoffs may be bad news for the Boston Scientific, which was the only company among the top 5 device makers to have reduced its workforce  in the last year, but the cardiac split, which will separate the cardiac rhythm and stent businesses, could be a good move.