Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 1/2 years to free money for new investments, the Natick medical device makers second major round of cuts since last year.
The company would not say how many jobs will be lost in Massachusetts, where fewer than 2,000 of its 25,000 employees are based. In February 2010, Boston Scientific said it would pare 1,300 jobs worldwide, but similarly did not say where.
Yesterdays move, a day after Boston Scientific disclosed it was investing $150 million and hiring 1,000 people in China, raised fears that the company will gradually shift more work to foreign sites with less government oversight and lower costs than the United States.
Medical-device manufacturer to lay off 1400 « Hot Air
The drug maker Merck, which is still trimming a workforce that ballooned after its merger with Schering-Plough in 2009, said Friday the job-cutting will go even deeper as the company eliminates as many as 13,000 more positions around the world to reduce costs during the next four years.
The U.S., where the company employs 35,000 people, will take a hard blow, absorbing as much as 40 percent of the cuts, according to Merck.
Caouette said the latest job cuts will be partially offset by hiring in high-growth areas, namely the emerging markets of China, India and Brazil. Thats where Merck and other drug makers are hoping to generate future growth.
Drug company Merck, which employs 12,000 in N.J., to eliminate 13,000 positions worldwide | NJ.com
"High growth areas" "emerging markets"
Obamacare or something else?