Boston Scientific unveils major restructuring, plots job cuts amid savings drive

MedTech Boston Scientific unveils major restructuring, plots job cuts amid savings drive By Ben Adams Jul 28, 2026 8:45am Boston Scientific Devices MedTech Medical device maker Boston Scientific has been a prolific dealmaker this year but is now taking a step back as it looks to make changes internally. This takes shape in the form of a newly agreed global restructuring program that starts this year and is slated to be finished by 2029. The plan, according to a filing, is based on supply chain optimization, including “transferring certain production lines among facilities, targeted functional transformation and organizational structure evolution.” The restructuring is designed to help save money, though in its filing, the medtech said the move could cost between $700 million and $800 million in pre-tax charges, with the majority of that “expected to result in future cash outlays.” Related Boston Scientific to snap up thrombectomy specialist Penumbra in deal valued at $14.5B But down the line, Boston Scientific sees the plan delivering savings worth around $500 million a year in pre-tax expenses. That money will be “reinvested into growth initiatives,” it said. The company explained that it “does expect some headcount reductions to result from these restructuring activities,” but did not give any numbers or areas where these cuts may be made. It added that new jobs are set to be “created in areas of growth.” The initiative comes as Boston Scientific has spent big on deals in 2026, starting the year with a massive $14.5 billion deal to buy medical device maker Penumbra. Just before that deal, the company snapped up urology medtech Valencia Technologies for an undisclosed price. Back in May, it also put $1.5 billion into MiRus, alongside an option to snap up exclusive rights to its Transcatheter Aortic Valve Replacement (TAVR) system. Analysts at Evercore ISI said in a note that from a timing standpoint, the plan “wasn’t surprising given the change in topline trajectory had necessitated rebasing [the company’s] cost structure.” This comes after the company tempered its full-year guidance in Q1 due to increased competition and slower growth in certain franchises, despite beating sales expectations. Boston Scientific Devices MedTech