Boston Scientific to Cut Staff in Global Restructuring Program
By Elias Schisgall
Boston Scientific will lay off staff as part of a new global restructuring plan.
The medical-technology company expects to incur pre-tax charges in a range of $700 million to $800 million as part of the restructuring, according to a Monday filing with the Securities and Exchange Commission.
Between $275 million and $300 million of that total is expected to come from termination benefits, Boston Scientific said, adding that some employees will be laid off as part of the restructuring. It didn't specify how many employees would be affected.
"While new jobs are created in areas of growth and resources are deployed to support the Company's portfolio and global market needs, the Company does expect some headcount reductions to result from these restructuring activities," the company said in its filing.
The plan also covers optimizing supply chains by transferring some production lines among facilities, as well as evolving the company's organizational structure.
Of the expected pre-tax charges, around $600 million to $700 million is expected to result in future cash outlays. The program is expected to reduce annual pre-tax expenses by around $500 million.
The plan is expected to be set into motion this year and substantially completed by the end of 2029.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
July 27, 2026 16:39 ET (20:39 GMT)
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