Boston Scientific to Slash 2,300 Jobs
Boston Scientificsaid on Wednesday it would cut about 2,300 jobs as part of its effort to reduce operating expenses.
It will record total pretax charges of about $450 million to $475 million, or 20 cents to 22 cents per share. About $275 million to $300 million will be taken in the fourth quarter, with the remainder recorded throughout 2008 and 2009, the medical device maker said.
The move is expected to cut Boston Scientific's expenses by $475 million to $525 million in 2008, and by about $25 million to $50 million more in 2009, the company said.