Which Medtech Firms Had the Most Layoffs This Summer?

The summer months bring fireworks, outdoor barbeques, pool parties and a significant number of layoffs for the medtech industry. While the U.S. economy is slowly recovering from the Great Recession, some aftershocks are still impacting employees at many top firms.

In May, Medtronic announced that it would be shedding 2000 jobs globally--500 of them in Minnesota. Also in May, the company announced that it would be laying off 230 employees in its spine business in Memphis.
In late July, Abbott (Abbott Park, IL) announced that it would eliminate 200 positions at a San Diego-based production facility. The factory's focus included the production of cardiovascular stents, but other devices were produced at the plant too.

According to a spokesperson for Abbott, the cuts at the facility are part of an ongoing restructuring plan the company first announced last October. The company states that it is adjusting its workforce "to meet the evolving needs of our business." In total, this facility once employed 4,000 people. However, that number has been halved to 2,000.

Accelrys (San Diego, CA) also announced layoffs, axing a total of 80 positions in the United States and the United Kingdom. The company, a scientific software provider, will shut down facilities in San Ramon, CA.

In total, the company has reduced its workforce by 12%. In an unexpected turn, however, the company did state it plans to add 40 new employees. In total, the company expects restructuring charges ranging from $6.1 to $7.5 million following the layoffs and other initiatives.

Following an FDA-panel disaster, Delcath (Queensbury, NY) announced that it would axe 20% of its U.S.-based workforce in late June. After FDA regulators voted against the company's drug-device system designed for liver cancer chemotherapy, the company went into survival mode, securing its cash and refocusing on its European branch.

Late June also included layoffs at Becton Dickinson's diagnostic arm. The cuts, scheduled to begin on August 31st, will take place at the company's Monona, WA plant. A full closure of the plant is expected by late June. The company's diagnostic branch is based near Baltimore, MD. By closing it WI facility, Becton will consolidate its operations in MD. The company manufactured culture media that could be used to monitor air contaminants and grow bacteria.

Details are thin about about Thermo Fisher Scientific Inc. layoffs, but the medical device and lab equipment firm announced in the middle of 2013 that it had laid off 655 employees in the first half of 2013.

Swiss device firm Biomet announced in July that it was closing one if its plants, eliminating 230 employees in the process. The facility, located in Le Locle, Switzerland, will be shuttered by the end of the year.

San Diego-headquartered firm Volcano Corp. didn't technically have layoffs in the summer of 2013, but it announced that it would by the end of the year. The company plans on laying off 39 employees by September.