Boston Scientific plans $150M in annual cuts, including 'limited' layoffs

Boston Scientific, a medical devicemaker, plans to shed $150 million in expenses annually over the next three years, which may include "limited" layoffs, according to the Boston Business Journal.

The company said the layoffs and cost reductions are part of a restructuring plan that will adjust and optimize its supply chain network.

"We do expect some employee attrition and limited headcount reductions to result from these restructuring activities. We are committed to providing these individuals our support to help with their transition," Boston Scientific stated.

The company said that while job cuts will take place, its headcount will remain relatively stable because it plans to create jobs in growth areas.  

The restructuring is expected to be complete by the end of 2021.

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