Medical-device firm Boston Scientific said it will cut 2,300 jobs, or 8 percent of its workforce, as part of a bid to trim $500 million in annual operation costs. Much of the company’s financial problems occurred after its mid-2006 purchase of Guidant, which just recalled wires from its core defibrillator product line. (AP in USA Today)
The Bottom Line
October 18, 2007
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