Welcome to the wake [1], Boston Scientific. The device maker is poised to join its healthcare colleagues in laying off thousands of workers. Analysts that follow the company predict it will cut up to 12 percent of its global workforce, or up to 3,400 people.
Boston Scientific already cut some 500 to 600 jobs this year. Company officials said this summer that they'd announce more layoffs by year's end; that word is expected soon, perhaps this week. The company has been faltering since it bought Guidant two years ago, loaded as it is with debt and beset by falling sales of its drug-coated stents.
- read the article [2]Â from the Boston Globe
Related Articles:
Boston Scientific deals with debt. Report [3]
Tough times for stent market. Report [4]
Boston Scientific implant gets EU nod. Report [5]
Read more on: Boston Scientific [6]
Links:
[1] http://www.fiercebiotech.com/special-reports/top-5-layoffs-2007
[2] http://www.boston.com/business/healthcare/articles/2007/10/16/heavy_job_cuts_seen_at_boston_scientific/?page=1
[3] http://www.fiercepharma.com/story/boston-scientific-deals-debt/2007-08-24
[4] http://www.fiercepharma.com/story/toughh-times-stent-market/2007-08-17
[5] http://www.fiercepharma.com/story/also-noted-korean-pharma-mired-family-feud-boston-scientific-implant-gets-eu-nod/2007-10-09
[6] http://www.fiercepharma.com/tags/boston-scientific