Medtronic (NYSE:MDT) is letting go of 59 workers at a facility in Sunnyvale, California, according to a notice filed with the state.
The California Employment Development Department says it received the WARN notice on April 7.
In a statement shared with MassDevice, Medtronic said it seeks effectiveness and efficiencies to drive growth. “As we assess our business, we need to make longer-term structural changes to ensure the sustainability of our organization. We previously announced plans to close this facility, and after careful analysis and consideration, we have made the necessary decision to close the site in June 2023, therefore eliminating some positions.”
The site is related to Epix Therapeutics, a radiofrequency cardiac ablation tech developer that Medtronic bought for $316 million in 2019. The FDA in 2021 approved the DiamondTemp ablation system, an atrial fibrillation treatment that Medtronic acquired through the deal.
In October 2020, Medtronic internally communicated that it planned to transfer DiamondTemp catheter manufacturing to its Galway, Ireland catheter manufacturing facility (Parkmore site), according to the company. As a result, the Epix Sunnyvale site would close in 2023.
The full WARN letter that MassDevice obtained from the EDD said the company plans to restructure and relocate operations at the facility, with all positions there eliminated. The job reductions start this month and run through September.
Medtronic says it is providing employee assistance and will work to retain and redeploy affected employees to other parts of the company wherever possible.
