» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 87 | Friday, May 03, 2013

Medtronic to Cut 60 Memphis Jobs

By Jennifer Johnson Backer

Print | Front Page | Email this story | Email reporter | Comments ()

Medtronic Spine, the Memphis-based division of Medtronic Inc., will cut about 60 local jobs as part of a strategy to reduce overall costs by 5 percent, a company spokesman confirmed.

The Spine division employs about 1,300 in Memphis.

Victor Rocha, a Medtronic spokesman, said the workers learned of the cuts Wednesday, May 1.

Medtronic Spine also will trim 230 positions globally, including the Memphis job cuts, from its worldwide workforce of 5,600. Minneapolis-based Medtronic Inc. employs about 45,000.

Eric Epperson, senior director of public relations and communications, told The Daily News in an April 26 story that Medtronic Spine faces increased pricing pressure, more complex customer device purchasing processes, expanded medical device governmental review times and requirements, and the medical device excise tax.

While the plan to trim costs by 5 percent was communicated to employees on April 4, the specific details weren’t available until Wednesday.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 97 255 6,360
MORTGAGES 94 260 7,562
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 195 590 13,899
BANKRUPTCIES 67 180 4,754
BUSINESS LICENSES 26 95 2,435
UTILITY CONNECTIONS 54 185 5,081
MARRIAGE LICENSES 12 66 1,526

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.