Medtronic Spine to Slash Warsaw Workforce

Medtronic has announced that it will be reducing its Warsaw, IN, workforce, laying off approximately 50 full-time workers. The company informed its employees of the restructuring plans on April 4, saying that the changes would take place with the start of the new fiscal year. "The details are not yet available, but yes, approximately 50 employees will be affected," remarked Eric Epperson, senior director of communications."The restructuring is intended to set a foundation for the business to return to growth and consistently achieve our financial goals," a Medtronic Spine statement said. "We are addressing the near-term cost and pricing challenges facing our business, while also responding to the long-term dynamics of the global healthcare environment and changing needs of our stakeholders."While the medical device tax is a small contributor to the layoffs, increased pricing pressure, more-complex customer device purchasing processes, expanded governmental review times and requirements for product approvals are also playing a role.For more news about Medtronic and medtech layoffs, see:Medtronic to Senate: Kudos for Voting to Kill Device TaxIn First Sale in a Year, Medtronic Sells $3 Billion in BondsMedical Device Tax: Industry Execs Slam New York TimesSmith & Nephew CEO Downplays Device Tax in Recent Layoffs