Boston Scientific to restructure in quote to reduce operating costs

<articleLocation” > Medical device maker Boston Scientific Corp (BSX.N) stated on Wednesday it would undergo a worldwide restructuring program that is anticipated to save the company as much as $150 million by 2020. The business said it expects to sustain total pre-tax charges of about $175 million to $225 million as a result of the program. The business stated it would cut some jobs under the program, although the overall number of staff members will stay “relatively the same.”

Since Dec. 31, Boston Scientific had about 25,000 staff members, according to a governing filing. The program, which will cut gross yearly pre-tax business expenses by about $115 million to $150 million, is expected to be largely finished by the end of 2018, the business said.

In April, the company reported a higher-than-expected quarterly revenue and raised its full-year earnings projection, enhanced by sales of new devices for heart patients.

( Reporting by Narottam Medhora in Bengaluru; Modifying by Leslie Adler).

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