The cuts are intended to save $100 million to $115 million in operating costs by the end of this year and streamline operations.
Boston Scientific has been struggling in recent years as sales have declined in the interventional cardiology and cardiac rhythm management markets and health care providers focus on keeping costs down. The company reported fourth-quarter earnings that fell 44% to $60 million, or 4 cents a share, including one-time charges. The results still beat analysts' expectations.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.
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