Interventional technology firm Medtronic of Minneapolis plans to reduce its global workforce by 1,500 to 1,800 employees by June 30.
The layoffs include approximately 400 U.S. employees who have accepted early retirement or voluntary separation agreements and who will end their employment at the company by May 29.
Medtronic also plans to add approximately 700 positions, primarily in sales and research and development functions, during the course of the fiscal year.
The company recorded a restructuring charge of $27 million related to its workforce reduction and realignment in its fourth fiscal quarter (end-April 24), and plans to record a restructuring charge in the first quarter of its current fiscal year.
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