MARLBOROUGH – Boston Scientific has announced a global restructuring initiative that will include workforce reductions as the company streamlines operations over the next three years.
Company officials estimate the restructuring will cost between $700 million and $800 million, but say it is expected to reduce annual operating expenses by approximately $500 million once fully implemented.
While Boston Scientific says some new positions will be created to support the transition, the company acknowledged there will also be job cuts. Officials have not announced how many employees will be affected or which locations may see reductions.
