Boston Scientific posted a third-quarter net loss today and said it will cut its global workforce by 2,300, or 13 per cent.
The company employs around 5,000 people at sites in Cork, Galway, Clonmel, and Letterkenny. Earlier this year, Boston Scientific announced it plans to sell another plant in Tullamore.
A spokesperson said the location of the cuts had yet to be decided and that the company was committed to Ireland.
The company forecast fourth-quarter earnings of 14 cents to 19 cents a share, excluding charges related to acquisitions, divestitures and restructuring. It estimated fourth-quarter sales at $2.05 billion to $2.15 billion.
For the third quarter, the medical device maker reported a net loss of $272 million, or 18 cents per share, compared with a year-earlier profit of $76 million, or five cents per share.
Excluding special items, the company posted a profit of 20 cents per share.
Third-quarter sales were $2.048 billion, up slightly from $2.026 billion a year earlier.
Shares of Boston Scientific closed at $13.85 on Thursday on the New York Stock Exchange.