Layoffs in medtech: These companies recently reduced their workforce (MassDevice)
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs.
You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more.
For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply chain challenges and more.
Medtech has shown some resilience in the present environment. Some major medical device companies released positive earnings. However, others announced headcount reductions, citing macroeconomic headwinds. Others felt the weight of regulatory issues and restructuring efforts.
In fact, MassDevice has reported on more than 18,000 medtech workers let go across the industry since mid-2022.
Here is our roundup — based on MassDevice reporting — of companies across medtech that enacted layoffs since mid-2022:
Company
Size of layoff
3M
2,500 employees
Akili
30% reduction (46 employees)
Ambu
200 employees (roughly 4%)
Baxter
Less than 5% of workforce (up to 3,000 employees)
Butterfly N...
