Medtronic lays off 220 workers at Mounds View cardiac unit

  • Article by: DEE DePASS and JAMES WALSH , S tar Tribune staff writers
  • Updated: May 2, 2012 - 9:45 PM

The cuts were made at the Mounds View cardiac rhythm disease management division.

  • 14
  • Comments

  • Results per page:
MickeyMay. 2, 12 5:24 PM

Another layoff, more people on unemployment. Only 192K jobs were created in April. Obama's policies are not working and are destroying America. And that is by design, Bill Ayers, Obama's mentor has already declared America dead. By the way, Obama lived with Bill's parents for a while. I heard that Obama's followers are like Jim Jones followers, ready to drink the kool Aid anytime they are told. Think for yourself and help rebuild America.

36
46
hammersteinMay. 2, 12 5:52 PM

Mickey, I thought you were smarter than that. This move by Medtronic is a direct response to net income not being what they anticipated it to be. Unfortunately, their are many GPO's, insurers and healthcare systems that are forcing Medtronic, and the like, to sustain themselves with lower margins.

34
16
mcsimianMay. 2, 12 8:02 PM

Ouch. As Obama destroys the medical device industry you can expect more of the same.

28
31
CurlyD777May. 2, 12 8:51 PM

24% profit margin. Almost $1B in earnings. Still not enough money to keep the jobs.

26
16
omgmovMay. 2, 12 9:32 PM

Market growth in the low single digits is anticipated for the CRM market for the next several years. Reduction of R&D spending is a natural consequence, and this action is understandable, but still, I hate to see the loss of good high tech MN jobs.

26
0
marti2008May. 2, 1210:14 PM

Last time I looked the Minnesota unemployment rate it is below 6%. The sky is not falling it is bussiness. Stop with the mindless Fox soundbites.

20
21
arielbenderMay. 3, 1212:35 AM

mcsimianMay. 2, 12 8:02 PM Ouch. As Obama destroys the medical device industry you can expect more of the same.____________LOL..can you enlighten us as to how Obama is destroying the medical device industry?

18
16
anderson245May. 3, 12 4:55 AM

This is the same facility which Medtronic used to receive a 25 year Tax Increment Financing (corporate welfare). Medtronic is not paying property taxes on this property, not living up to their end of the bargain, and the taxpayers in Mounds View are paying the price.

7
12
iroquoistomMay. 3, 12 6:05 AM

The story makes it clear that slowing growth preceded the cutback. The repeated attempts to politicize any bad news as having its origin with President Obama are so pathetic and wearying. Were these geniuses speaking out when we embarked on spending $800B on Iraq?

12
7
mark79May. 3, 12 7:49 AM

These layoffs were due to the fact that this is not a growth industry, cutbacks are to be expected. But the point about Obama's policies severely hurting jobs in the health care industry is a valid one. All his policies are aimed toward forcing the health care system to treat many more people than they are today for much less reimbursement. More patients might sound like it means job security, but really this means slashing everything to the bone to try to save enough money to keep the lights on. There are no health systems in Minnesota that are in great financial shape today, let alone after Obamacare takes hold. Piling a bunch of additional taxes on medical devices is not going to help Medtronic or Minnesota jobs either.

12
7

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT