St. Jude Medical to cut more jobsby Martin Moylan, Minnesota Public Radio
ST. PAUL, Minn. — Medical-device maker St. Jude Medical will cut about 500 positions as part of a reorganization plan.
About 100 of the company-wide job cuts will come in Minnesota. The company had already announced 300 layoffs in August, including 80 in Minnesota.
The Little Canada-based firm is realigning its product divisions and will centralize several support functions, including information technology, human resources and certain marketing functions.
St. Jude said these organizational changes are part of a plan to accelerate the company's growth and reduce costs. In its most recent quarter, St. Jude's net income fell about 20 percent to $176 million.