Medtronic is laying off 59 employees as the device maker closes a facility in California, MassDevice reported.
The Sunnyvale, Calif., site is related to Epix Therapeutics, a radiofrequency cardiac ablation tech company that Medtronic acquired for $316 million in 2019, according to the April 12 story. Meditech had said it would move that catheter manufacturing to Ireland.
"As we assess our business, we need to make longer-term structural changes to ensure the sustainability of our organization," the company wrote in a statement shared with MassDevice. "We previously announced plans to close this facility, and after careful analysis and consideration, we have made the necessary decision to close the site in June 2023, therefore eliminating some positions."
Medtronic has promised "significant expense reductions" in the fourth quarter of its fiscal year, which ends April 28, according to the story. More than 18,000 medtech workers have lost their jobs since mid-2022.