Boston Scientific employees hope to get job cuts details today

BOSTON Scientific employees here will be given a clearer indication today on the scale of job losses at its Irish operations.

The company, which employs 4,400 people here, said it would lay off 2,300 workers, or 13% of its work force globally, by the end of next year.

Boston Scientific is expected to give further information on the layoffs this morning in a conference call with investors.

A spokeswoman for the company in Ireland said that Boston Scientific’s commitment to its Irish employees remains strong.

“The head count and expense reduction plan announced today is part of the company’s overall plan to bring expenses in line with revenues and restore competitiveness.

“The vast majority of the cuts announced will be in non-manufacturing jobs in the United States. Our core commitment to Ireland and our approximately 5,000 Irish employees remains strong,” she said.

The medical device company, saddled by debt since its $27 billion (€19bn) acquisition of Guidant Corp and hampered by slowing sales of its most lucrative heart devices, has been moving to try to improve its flagging share price.

Boston Scientific shares are down nearly 45% since early 2006.

It employs 3,000 people in Galway and a further 1,000 in Cork and announced in July that it was planning to cut between 500 and 600 jobs.

Boston Scientific aims to cut operating costs next year by as much as 13%, or $475m (€332) to $525m (€367), with added savings of $25m (€17.5m) to $50m (€35m) in 2009.

It is also trying to sell its combined fluid management and oncology venous access businesses as well as selling the cardiac surgery and vascular surgery businesses.