Medtronic to cut jobs amid slowdown in key market
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Medical device maker Medtronic Inc. , feeling the pinch of a slowdown in one of its key markets, will eliminate about 900 jobs through early retirement packages, voluntary and involuntary separations, the company said in a filing.
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US drugs firm Pfizer plans to cut 20% of its US sales force, about 2,200 jobs, to cut costs and offset the loss of patents.
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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.
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The semiconductor industry is showing the first signs of slowing growth, trimming purchases of raw materials and production equipment as demand slows, industry executives and analysts said on Tuesday.
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Intel Corp. , the world's largest semiconductor maker, will cut 10,500 jobs as part of chief executive Paul Otellini's plan to reduce costs by $3 billion annually starting in 2008.
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British pharmaceutical giant GlaxoSmithKline said Wednesday it would cut jobs and costs as it blamed a fall in third-quarter profits on sliding sales of controversial diabetes drug Avandia.
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Boston Scientific Corp. , facing flagging sales for its two key product lines, said late yesterday it will eliminate 2,300 jobs, or 8 percent of its worldwide workforce, restructure parts of its business, and go forward with plans to shed some less-critical assets.
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Medtronic is spinning off its external defibrillator unit to focus on treatments for chronic medical conditions.
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Boston Scientific Corp. , the medical device maker, eliminated 55 jobs in Marlborough last month, according to the state Executive Office of Labor and Workforce Development. Company spokesman Paul Donovan said the Natick firm made the cuts after deciding to pull the plug on its Endovations program, an effort to develop a new single-use endoscope with an integrated ...
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Intel Corp. INTC.O said on   Tuesday it is cutting 10,500 jobs, or about 10 percent of its   work force, as part of a plan by the world's biggest microchip   maker to become more competitive.
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More than 100 workers in Newton are scheduled to lose their jobs by February amid the purchase of MedSource Technologies Inc. by another medical device contract manufacturer, the new owner acknowledged yesterday.
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TriQuint Semiconductor Inc. said Monday that it is cutting about 200 jobs as part of a plan to save $18 million per year by restructuring its optoelectronics business.
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Medical device maker Medtronic Inc  on Tuesday said quarterly earnings fell on charges related to the acquisition of Kyphon.
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Cardinal Health Inc., the second- biggest US drug distributor, reduced its fiscal 2005 forecast and said it will cut 4,200 jobs as opportunities for profiting from drug-price increases decline.
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Medtronic Inc., the world's largest maker of medical devices, said yesterday it will spin off its external defibrillator business into an independent, publicly traded company.
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Swiss drugs firm Novartis says it is cutting about 1,250 US jobs as it reorganises its management.
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A slowing economy weighs on the employment software company.