Boston Scientific launches multi-year restructuring plan, foresees $500 million annual savings and job cuts

Boston Scientific announced a global restructuring program that will run from this year through 2029, aiming to streamline its supply chain and reorganize functions.

The plan involves moving certain production lines between facilities, functional transformation, and changes to the organizational structure, with an expected pre-tax charge of $700-$800 million.

The company projects the restructuring will generate about $500 million in annual pre-tax savings, which it intends to reinvest in growth initiatives.

Boston Scientific said the restructuring will likely lead to some headcount reductions, though it did not disclose numbers, and it also expects to create new positions in growth areas.