Business

Mass. Movers

Charges cut into Boston Scientific results

Boston Scientific employs about 24,000 people.
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Boston Scientific employs about 24,000 people.

Boston Scientific Corp. swung to a first-quarter loss on restructuring charges and a write-down of the value of its defibrillator business. In January, the Natick company said it plans to cut 900 to 1,000 jobs this year. It lost $354 million, or 26 cents per share, in the first quarter. That compares with a profit of $113 million, or 8 cents, a year ago. Excluding charges, it would have earned 16 cents per share. Analysts polled by FactSet expected earnings per share of 9 cents.

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