Market Movers

Boston Scientific unveils more job cuts

Boston Scientific has about 2,000 Bay State employees.


Boston Scientific has about 2,000 Bay State employees.

Boston Scientific plans to shed up to 1,500 jobs worldwide, or 6 percent of its workforce, to cut costs. CEO Michael F. Mahoney said most of the cuts will be made at manufacturing plants around the globe. Because the Natick-based medical device company does not make any products in Massachusetts, the workforce here will be largely unscathed, he said. It posted a third-quarter loss of $5 million, or break-even per share, vs. a loss of $664 million, or 48 cents, a year ago.

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