Thursday, May 21, 2009

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Medtronic To Cut 1,500-1,800 Jobs By End Of June

Medtronic Inc. (MDT) will eliminate about 1,500 to 1,800 jobs from its global workforce by the end of June amid efforts to control costs and manage economic pressures.

The medical-devices giant, which has about 39,000 workers around the world, recorded a $27 million restructuring charge related to job cuts and " realignment" in its recent fiscal fourth quarter and will record an unspecified restructuring charge in the current quarter.

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