Medtronic (NYSE:MDT) offered early retirement incentives in recent weeks as the world’s largest medical device company seeks to cut costs before the end of its fiscal year in April.
The medical device developer and manufacturer has said little about potential job cuts among its ranks, which it reported as more than 95,000 people worldwide at the end of the company’s last fiscal year.
Fridley, Minnesota–based Medtronic has promised “significant expense reductions” in the final quarter of its fiscal year, which ends April 28, 2023. Meanwhile, MassDevice has reported on more than 19,000 medtech workers let go across the industry since mid-2022. (If you have information to share on or off the record, get in touch with me by email or LinkedIn.)
“Medtronic continually evaluates its operations to ensure a competitive business model aimed at long-term growth aligned to the needs of our customers,” the company said in a…