Roughly a week after Boston Scientific Corporation announced plans to eliminate 900 to 1,000 positions worldwide in 2013, a state record indicating that the major local employer cut 500 Minnesota jobs back in August is getting some attention.
The 500-job figure was included in a report produced by the Minnesota Department of Employment and Economic Development—and it gives the first and only indication to date about how the Natick, Massachusetts-based company’s ongoing restructuring is affecting its local work force.
Boston Scientific employs about 5,000 in Minnesota at offices in Maple Grove, Plymouth, and Arden Hills, a company spokeswoman told Twin Cities Business last week. Meanwhile, the company employs about 24,000 worldwide.
The med-tech giant’s restructuring process began in 2011. Including the cuts announced last week, the company expects to eliminate between 2,100 and 2,400 positions between 2011 and 2013, according to a filing with the U.S. Securities and Exchange Commission. The company hasn’t revealed how many of the job cuts will be in Minnesota.
Last week, when asked how the just-announced round of cuts will affect Boston Scientific’s Minnesota work force and which types of jobs will be eliminated, a spokeswoman said in an e-mail that “those plans have not yet been finalized.”

Boston Scientific announced its latest restructuring plans in conjunction with the release of its fourth-quarter and full-year 2012 financial results.

For the fourth quarter, which ended December 31, the company reported sales of $1.82 billion, down 1 percent from the same period a year ago. Earnings, meanwhile, totaled $60 million, or 4 cents per share—dropping 44 percent from $107 million, or 7 cents per share, during last year’s fourth quarter.

Excluding charges related to restructuring, acquisitions, litigation, and other activities, net income totaled $252 million, or 18 cents per share.

Although Boston Scientific isn’t based in Minnesota, two of its largest rivals are: Fridley-based Medtronic, Inc., and Little Canada-based St. Jude Medical, Inc.—both of which also cut jobs last year.

Like what you just read? To receive business news directly in your inbox each Tuesday and Thursday, sign up for our free e-newsletter, Briefcase, and be sure to join the conversation by commenting below.