Medtronic plans workforce reduction

[CatholicEdHead]

Source: Startribume

At an employee meeting today, Medtronic Inc. CEO Bill Hawkins said the medical technology giant plans to reduce its global workforce in the coming fiscal year, but didn't offer further details on the scope of the job cuts.

Medtronic, which makes pacemakers, diabetes pumps and devices used in spine surgery, said more details will be provided in May. (The company's fiscal year begins May 1.)

The Fridley-based company employs 38,000 people worldwide, about 8,000 of them in Minnesota.

Medtronic said in a statement it already has implemented a number of initiatives to reduce expense growth, including eliminating merit-pay increases for all employees. Executives also took a 5 percent pay cut, spokesman Steve Cragle said.

Read more: http://www.startribune.com/business/40236967.html

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More cutbacks coming in the medical industry. :(

[Thor_MN]

1. This is the very first time that I have been even slightly glad I don't work there anymore

Worked for them for 6 years and was less than happy (at the contracting firm) when my contract ended. I enjoyed my time working there and still miss it, but now glad that I don't have to deal with this. Fortunately, my current company has not (yet) had to make any adjustments due to Bush's failed policies.

[kickysnana]

2. Retro: I didn't get hired in the Medtronic cutbacks of 1981. n/t