Boston Scientific Plans Global Restructuring Costing $800 Million

Boston Scientific Corp. is launching a global restructuring program aimed at driving cost efficiencies and supporting growth. Approved by the board on July 21 and disclosed in a July 27 SEC filing, the initiative is expected to cost between $700 million and $800 million and will run through the end of 2029.

The company intends to reduce annual pre-tax expenses by approximately $500 million by optimizing its supply chain, transferring production lines between facilities, and evolving its organizational structure. Financial estimates for the transition include up to $350 million for transferring manufacturing lines, $300 million for employee termination costs, and $150 million for other restructuring expenses.

While the company expects to create new jobs to support its global portfolio and market needs, it also anticipates headcount reductions. The company stated it will work with unions when required to determine the specific impact on employees. CEO Mike Mahoney previously cited ongoing competitive dynamics as a reason for trimming the company's full-year outlook.