St. Paul, Minnesota – St. Jude Medical cutting 500 jobs

St. Jude Medical said Thursday that it has laid off another 500 people as it restructures to deal with slumping sales of its heart devices.

In August, St. Jude said it had terminated 300 employees, including 80 in Minnesota, as part of a broader companywide reorganization expected to slash $50 million to $60 million in costs in 2013.

But on Thursday, St. Jude revealed in a regulatory filing that it had eliminated an additional 500 positions — still as part of that restructuring. St. Jude officials would not say how much additional savings it expects to reap from the most recent layoffs. About 100 of those 500 displaced workers are in Minnesota, said company spokeswoman Kate Stoltenberg…

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via St. Jude Medical cutting 500 jobs in another round of layoffs | StarTribune.com.