Am I Next? Cost-cutting and restructuring at Medtronic.

Fridley, Minnesota-based Medtronic, the world's largest medical device company, has announced a continuation of its five-year cost-cutting and restructuring program known as the “Enterprise Excellence Program” which was announced in January 2018 by the parent company headquartered in Dublin, Ireland. According to the company, the goals were to stay competitive within the medical device industry and “ designed to drive long-term business growth and sustainable efficiency, leverage the company's global size and scale, and enhance the customer and employee experience.”

We are now seeing the second round of layoffs at its Santa Rosa, California surgical catheter component manufacturing facility following the previous layoff of 100 hourly and salaried employees in their cardiac and vascular device in April 2019.

Impacted in this round of layoffs will be 100 hourly and salaried workers who will be laid off in phases with the last employees leaving in May 2020 as the company continues to transition operations to their facility in Danvers, Massachusetts.

During the April layoffs, a company spokesperson noted, “We continually evaluate our operations to look for ways we can streamline the organization and be more efficient, as we need to deliver growth to the corporation. The business is prioritizing programs that best position us to have the greatest impact on patients in the future. We needed to make longer-term structural changes to ensure the sustainability of our organization and determined that we needed to reduce a number of positions.”

Other Medtronic facilities and divisions world-wide are susceptible to restructuring.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?