Medtronic Layoffs Message Board

Let the games begin!

Omar

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FYI Medtronic started lay offs today in pump division.

I can't help myself by appreciating you Vighnaharta Ganesh and Kasauti Zindagi Ki with my Little Statement, that your

written article is more interesting than watching the Hindi series or the movie.

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Heard a bunch of layoffs made their way around the company ... who's next???

The Minneapolis Star Tribune had this to say:

Medtronic restructuring to cut costs by $450M to $475M

Savings of up to $475M are forecast by 2023 due to consolidation of operations.

By Star Tribune

SEPTEMBER 2, 2020 — 7:07PM

GLEN STUBBE/STAR TRIBUNE
Medtronic's headquarters in Fridley.

Medtronic is undertaking a restructuring that will cut costs by $450 million to $475 million annually and include an unspecified number of job cuts.

The medical device giant — based in Ireland but mainly run from Fridley — is adopting a “new operating model [that] will simplify Medtronic’s organizational structure and accelerate decisionmaking and execution,” according to a filing Tuesday with the U.S. Securities and Exchange Commission (SEC).

The annualized cost savings of up to $475 million will be achieved by Medtronic’s fiscal-year 2023.

Due to the restructuring, the company will also incur pretax costs — including severance — of $400 million to $500 million, the majority to be recognized by the end of its 2022 fiscal year.

In response to a query from the Star Tribune, Medtronic acknowledged that the restructuring would entail job cuts, and that affected employees are being notified. The company declined to release any job-cut numbers or locations.

Medtronic employs more than 90,000 people worldwide and nearly 11,000 in Minnesota, mostly in the Twin Cities.

Medtronic has four business groups: diabetes; cardiac and vascular; restorative therapies; and minimally invasive therapies. They are being shuffled to create “operating units” organized around specific therapy areas, the SEC filing said.

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Leaders of the new operating units will have full responsibility and accountability for their individual businesses and markets.

With the creation of the new units, Medtronic is consolidating operations at the corporate level — including the company’s global manufacturing, supply chain and facilities, the filing said.

Medtronic said it will discuss its plans further at an upcoming Investor Day being held virtually on Oct. 14.

The company will begin transitioning to the new organizational model during its third quarter, which begins in late October.

Medtronic’s stock closed Wednesday at $108.78, up 1.25%.

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Heard a bunch of layoffs made their way around the company ... who's next???

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deep stream development inc

Sheila k Boyce,Thomas Boyce, from Medtronic millions with c Tom Gallagher lll and Edward I London wife Victoria London. Paid surgeon Richard l levitt

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Don't forget about the 20 Senior IT employees in Mounds View who were recently laid off.

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Omar took over 200 jobs from us in Joliet IL in a little over a year. There were people that worked there for over 30 years. Family’s were devestated. We still have people that don’t have jobs yet. We never got 4 years or a bonus to stay. Just proves Omar doesn’t care about anything or anyone. He had to make two warehouses and hire double the people we had to do the job we did and they still can’t do it properly. How’s that working out Omar?? Have fun in your billionaire retirement while we go paycheck to paycheck cause of your.

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Not shocking since that's all he learned from his mentor, Neutron Jack.

Neutron Omar just being Neutron Omar.

https://pbs.twimg.com/media/C4bsdvZVMAQZh7L.jpg

Omar took over 200 jobs from us in Joliet IL in a little over a year. There were people that worked there for over 30 years. Family’s were devestated. We still have people that don’t have jobs yet. We never got 4 years or a bonus to stay. Just proves Omar doesn’t care about anything or anyone. He had to make two warehouses and hire double the people we had to do the job we did and they still can’t do it properly. How’s that working out Omar?? Have fun in your billionaire retirement while we go paycheck to paycheck cause of your.

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Shocking....


Medtronic announced Thursday it will lay off nearly 100  hourly and salaried workers from its Santa Rosa manufacturing operation, the second round of job cuts since spring when the company said it was displacing up to 100 employees.

The latest layoffs will occur over a four-year period, as Medtronic moves work to a plant in Danvers, Massachusetts, company spokeswoman Wendy Dougherty said.

The employees affected will be able to continue working through May 2020. They will be offered bonuses to remain on the job, she said.

https://www.pressdemocrat.com/business/10067970-18...

Not shocking since that's all he learned from his mentor, Neutron Jack.

Neutron Omar just being Neutron Omar.

https://pbs.twimg.com/media/C4bsdvZVMAQZh7L.jpg

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Shocking....


Medtronic announced Thursday it will lay off nearly 100  hourly and salaried workers from its Santa Rosa manufacturing operation, the second round of job cuts since spring when the company said it was displacing up to 100 employees.

The latest layoffs will occur over a four-year period, as Medtronic moves work to a plant in Danvers, Massachusetts, company spokeswoman Wendy Dougherty said.

The employees affected will be able to continue working through May 2020. They will be offered bonuses to remain on the job, she said.

https://www.pressdemocrat.com/business/10067970-18...

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Medtronic RTG was hit hard with layoffs back in May 2019. They dumped a lot of talent in to the market.

It’s so expensive and time consuming to interview, hire and train - such a waste

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Has anyone heard why Medtronic is unable to pay its employees’ mileage this July

Maybe due to the cash outlay for Titan Spine?

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Has anyone heard why Medtronic is unable to pay its employees’ mileage this July

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I think since they closed up Joliet they should give all the ex-employees a full bonus not a pro-rated one.

I think I heard thru grapevine they were going to terminate all FT software engineers and contractors for all the software related recalls, then promote all management responsible then outsource software to software sweatshops overseas and call it lean transformation strategy.

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I think since they closed up Joliet they should give all the ex-employees a full bonus not a pro-rated one.

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FYI Medtronic started lay offs today in pump division.

Thanks for the info. Internal, sales, locations?

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