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Health Populi December 18, 2024
Medtech firms have cut thousands of jobs this year. Will layoffs continue in 2025?
MedTech Dive December 18, 2024
Industry experts said profit pressures and M&A contributed to job cuts. They said layoffs will likely continue into next year, but some expect the cuts to slow.
Medtech firms have cut thousands of workers in the last two years, leaving employees wondering what’s to come in 2025.
In the past two months, DNA testing company 23&Me announced plans to cut 200 jobs, orthopedics firm Smith & Nephew announced plans to cut 150 jobs and diabetes tech firm Embecta said it would cut 125 positions after discontinuing its insulin patch pump program.
A MedTech Dive analysis found that there have been more than 14,000 layoffs across the industry from January 2023 to mid-2024.
Profitability pressures, mergers and strategic shifts have...
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Topics: Medical Devices