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VOL. 127 | NO. 88 | Friday, May 4, 2012

Medtronic Laying Off 220 Minn. Workers

AP

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FRIDLEY, Minn. (AP) Medtronic Inc. is restructuring its cardiac rhythm disease management division and is laying off about 220 workers.

The largest division in the Fridley medical technology company has struggled with slumping sales. The Star Tribune says the cardiac rhythm unit contributed about $1.2 billion of nearly $4 billion in third-quarter revenue. But, analysts say defibrillator sales have declined from about 20 percent annually to 2 percent.

Medtronic spokesman Christopher Garland says terminated employees at the Mounds View division will receive severance pay, outplacement services and medical benefit subsidies.

The company employs about 8,000 people in Minnesota.

Information from: Star Tribune, www.startribune.com

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 97 410 20,632
MORTGAGES 116 472 23,745
FORECLOSURE NOTICES 4 38 3,048
BUILDING PERMITS 227 1,085 42,594
BANKRUPTCIES 60 300 13,180
BUSINESS LICENSES 8 81 6,622
UTILITY CONNECTIONS 19 182 7,789
MARRIAGE LICENSES 13 64 4,643