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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 This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 77 11,602
MORTGAGES 79 79 13,506
FORECLOSURE NOTICES 0 0 1,858
BUILDING PERMITS 96 96 24,260
BANKRUPTCIES 53 53 7,526
BUSINESS LICENSES 31 31 3,943
UTILITY CONNECTIONS 49 49 4,730
MARRIAGE LICENSES 20 20 2,564

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