Boston Scientific cuts outlook, plans $500M cost reduction
Boston Scientific lowered its 2026 organic net sales growth outlook to 5-6% and announced a restructuring designed to cut about $500 million in annual costs.[1]
The company said the savings will come from supply-chain changes, production shifts and organizational restructuring, and that layoffs are expected though it did not specify job counts or affected sites.[1] CEO Mike Mahoney confirmed layoffs are expected but gave no specifics on numbers or locations.[1] The company employs about 59,000 people worldwide, including roughly 10,000 in Minnesota, where much of its cardiovascular work is based.[1] Its cardiovascular business accounted for 66% of 2025 net sales.[1]
Boston Scientific had earlier guided 10-11% organic net sales growth for 2026 before cutting the forecast to 5-6%.[1] Growth in its Minnesota-rooted Watchman heart implant has slowed sharply, and the company now expects 2026 global Watchman growth to be flat to low single digits as physicians change referral patterns.[1] That softer Watchman performance and the weaker revenue outlook prompted the restructuring plan.[1]
Investors and Minnesota officials will be watching for details on which sites and roles are affected as the company finalizes its cuts.
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📌 Key Facts
- Boston Scientific cut its 2026 organic net sales growth outlook from an initial 10–11% to 5–6%.
- The company launched a restructuring plan intended to reduce annual expenses by about $500 million through supply-chain changes, production shifts and organizational restructuring.
- Boston Scientific employs roughly 59,000 people worldwide, including about 10,000 in Minnesota, largely tied to its cardiovascular business that made up 66% of 2025 net sales.
- Growth in its Minnesota-rooted Watchman heart implant has slowed sharply; 2026 global Watchman growth is now expected to be flat to low single digits as physicians change referral patterns.
- CEO Mike Mahoney said layoffs are expected but did not specify how many jobs or which sites will be affected.
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