Medtronic to Cut Another $1.2B in Costs Over 5 Years

Medtronic CFO, Gary Ellis, said the company plans to cut $1.2 billion in operation costs as the company finishes a five-year, $1 billion plan that lowered its expenses by 25 percent, according to a MassDevice report.

Shares were up after the company announced higher-than-expected second quarter earnings last week. Mr. Ellis also said the market for spinal implants and cardiac rhythm management devices might be stabilizing.

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