BSX Cuts More Jobs as Q3 Loss Shrinks

Boston Scientific Headquarters in Natick

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Boston Scientific plans to eliminate 1,100 to 1,500 positions worldwide over the next two years, the Natick-based medical device company announced Wednesday.

The workforce reduction will be achieved through layoffs and attrition, the company said, and reduce operating costs by $150 million to $200 million a year.

Spokesman Peter Lucht said the company doesn’t yet have information on how many Massachusetts workers could face layoffs. Boston Scientific has roughly 1,700 employees in Central Massachusetts and 24,000 globally.

This is Boston Scientific’s third restructuring in the past two years, with the company announcing 1,000 job cuts in 2011 and another 900 to 1,000 in early 2013.

Boston Scientific’s financial performance has improved over the past year, with the company reporting Thursday a loss of $5 million for the third quarter of 2013. Restructuring and litigation costs prompted Boston Scientific to lose $664 million in the third quarter of 2013.

Excluding restructuring and litigation costs, the company earned 10 cents per share this quarter, beating analyst expectations by a penny. Global sales totaled $1.74 billion, matching both Wall Street expectations and the company’s performance in the third quarter of last year.

The company expects to take pre-tax accounting charges of approximately $175 million to $225 million during the next two years, including $30 million in the fourth quarter, to cover the cost of the job cuts.

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