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Boston Scientific To Cut Up To 1,500 Jobs

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(Photo courtesy: Boston Scientific - Facebook)

(Photo courtesy: Boston Scientific – Facebook)

NATICK, Mass. (AP) — Boston Scientific Corp. says it plans to shed as many as 1,500 jobs worldwide, or about 6 percent of its work force, in an effort to cut costs.

The company also says its CFO is leaving.

Boston Scientific is promoting its corporate controller to replace him.

The Natick, Mass.-based medical device maker says the job cuts over the next two years would come through attrition and layoffs.

It hopes to trim annual operating expenses by up to $200 million. The company has about 24,000 employees.

Boston Scientific on Thursday reported a third-quarter loss of $5 million, or break-even per share, compared with a loss of $664 million, or 48 cents per share, in last year’s quarter.

Sales were unchanged at $1.74 billion.

Shares are down 4.4 percent in premarket trading.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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