St Jude reorganizes to save $50-$60 million a year, cuts 300 jobs
(Reuters) – St. Jude Medical Inc, a maker of heart devices, has realigned its product divisions into new operating units: one for implantable electronic systems and another for cardiovascular and ablation technologies. The company, which said it has eliminated about 300 jobs, expects the changes to reduce pretax operating expenses by $50 million to $60 million annually beginning in 2013. Previously, St. Jude had four divisions: cardiac rhythm management, neuromodulation, atrial fibrillation and cardiovascular. …