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Medtronic announces global workforce realignment
On May 6, 2008, Medtronic announced a realignment of its global workforce. These changes support areas where we have the greatest opportunities for growth and the ability to streamline operations to drive leverage. This realignment, along with the organizational changes announced on April 29, will allow Medtronic to continue to invest in areas that drive sustainable growth.
A part of this realignment, Medtronic will reduce its global workforce by approximately 1,100 positions this fiscal year. The reductions will occur in businesses that are no longer growing at previous rates and in areas where we can drive operating leverage. For example, we will be consolidating certain manufacturing and R&D operations.
This year, Medtronic also will add many positions throughout the company, especially in our faster growing businesses and in certain geographic markets.
