Boston Scientific, a Natick, Mass.-based medical device manufacturer, is planning to cut jobs amidst slumping sales, according to The Wall Street Journal.
The manufacturer is projected to cut between 2,000 to 3,400 jobs, approximately 7 to 12 percent of its workforce.
“We will be reducing our expenses and head count to bring them in line with our revenue. These reductions will be part of our ongoing efforts to restore profitable growth, increase shareholder value, and strengthen Boston Scientific for the future,” a Boston Scientific spokesman told The Boston Globe.
Boston Scientific has recently endured slumping sales of its defibrillators and drug-coated stent product lines due to questions about the safety and benefits of stents, and recalls on implantable defibrillators.