Boston Scientific to cut up to 1,500 more jobs

Medical device maker Boston Scientific Corp. plans to eliminate between 1,100 and 1,500 jobs worldwide during the next two years, in a new round of cuts aimed at shaving operating costs by $150 million to $200 million through 2015, the company said Wednesday.

In a regulatory filing, Boston Scientific said the restructuring move — its third since 2011 — aims to “build on the progress the company has made to address financial pressures in a changing global marketplace.” In particular, the Natick company said, it wants to strengthen operations by simplifying manufacturing and consolidating production lines.

Boston Scientific employed about 24,000 people globally at the start of this year, including between 2,000 and 3,000 in Massachusetts. The company said the cuts would be done in layoffs and by not filling vacant jobs, but it did not specify where the positions will be slashed.


“Plans detailing specific employee impacts will be developed for each affected region and business,” the filing with the Securities and Exchange Commission said.

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A company spokesman declined to elaborate on the plans outlined in the SEC filing. Boston Scientific executives are expected to discuss the restructuring with analysts Thursday as part of the third-quarter earnings report.

The report has been highly anticipated because, after years of struggling with declining revenue, Boston Scientific appeared positioned for a return to sales growth.

Though overall revenue edged down 1 percent in the second quarter, higher sales in its Marlborough-based endoscopy division as well as the neuromodulation business unit pointed to a rebound. Second-quarter profits of $130 million also beat analysts’ projections.

Boston Scientific’s regulatory filing Wednesday said the company expects to take pre-tax accounting charges of between $175 million and $225 million during the next two years, including about $30 million in the fourth quarter of 2013, to cover the cost of layoffs.


Shares of Boston Scientific have more than doubled since the start of the year, closing Wednesday at $12.29 on the New York Stock Exchange. The stock rose 12 cents to $12.41 in after-hours trading.

The company, facing stiff competition and declining profit margins, said in 2011 that it planned to eliminate about 1,000 jobs during a two-year-period. Last January, Boston Scientific said it would cut 900 to 1,000 more positions.

Those overlapping reductions are currently winding down and are expected to be completed by the end of 2013 — just in time for the new cuts to start.

Robert Weisman can be reached at Follow him on Twitter @GlobeRobW.