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Tuesday, January 9, 2007

Boston Scientific to cut jobs


Natick-based Boston Scientific Corp. said it will eliminate 500 to 600 jobs from its cardiac rhythm division, with most of the cuts coming at a Minnesota-based office the company acquired in its $27 billion acquisition of Guidant Corp. last spring.

Boston Scientific also announced after markets closed Monday that it has seen a recent uptick in sales of so-called cardiac rhythm devices such as defibrillators, which had recently slumped after safety recalls involving Guidant products.

In morning trading Tuesday, shares of Boston Scientific rose 44 cents, or about 2.5 percent, on the New York Stock Exchange.

The job cuts, affecting about 2 percent of Boston Scientific's 29,000-person work force, will take effect in the first three months of the current year.

-- AP

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