Boston Scientific is initiating a global restructuring programme that will result in job cuts across the business. The 2026 restructuring plan, agreed with the board on 21 July and disclosed in an SEC filing on 27 July, is expected to cost between $700m and $800m, with approximately $600m to $700m in future cash outlays, and aims to reduce annual pre-tax expenses by roughly $500m. The company estimates that up to $300m of the total cost will be incurred due to terminations, while up to $350m will relate to transferring product manufacturing lines between facilities and up to $150m for other costs. Boston Scientific shares rose 2.85% to $45.51 on 27 July and gained a further 2% at market open on 28 July.
Boston Scientific CorpRestructuring plan aims to reduce annual pre-tax expenses by ~$500M, boosting profitability.