VOL. 128 | NO. 87 | Friday, May 03, 2013
Medtronic to Cut 60 Memphis Jobs
By Jennifer Johnson Backer
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.