In the newest wave of medtech layoffs shaking up the industry, Zimmer Biomet has announced plans to lay off 3% of its workforce as part of a global restructuring plan.
Here are five additional medtech layoffs to know:
1. In April, Medtronic, the world's largest medtech company, announced a wave of layoffs. In addition, the manufacturer is closing more than five manufacturing sites and six distribution centers by the end of April 2024, which could result in more cuts.
2. In 2023, medical device giant Johnson & Johnson cut around 350 jobs from its Auris Health and Verb Surgical robotic surgery businesses.
3. Boston Scientific laid off 120 people at the Houston site it acquired in 2021.
4. In May, Cook Medical announced plans to lay off 500 workers — about 4% of its global workforce.
5. 3M is reducing its manufacturing staff by about 2,500 employees, citing financial struggles by hospitals as a factor.