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VOL. 127 | NO. 88 | Friday, May 04, 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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 50 50 2,500
MORTGAGES 52 52 3,150
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 143 143 5,606
BANKRUPTCIES 56 56 2,002
BUSINESS LICENSES 35 35 952
UTILITY CONNECTIONS 92 92 2,132
MARRIAGE LICENSES 22 22 486

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