Medtronic says coverage of local job cuts buries the lede
Medtronic's world headquarters (pictured) is currently in Fridley, but the company plans to pack up and move to a more tax-friendly country.
Yesterday, the Minneapolis/St. Paul Business Journal broke news that Medtronic, Minnesota's eighth-largest company, is cutting 40 local jobs. That development comes less than a month after Gov. Mark Dayton said Medtronic CEO Omark Ishrak personally assured him his company plans to create 1,000 new jobs here even though it will be relocating its headquarters to Ireland.
A few paragraphs into the piece, the Business Journal notes that Medtronic "notified the Minnesota Department of Employment and Economic Development (DEED) [of the cuts] in April. The state agency recently disclosed the cuts in an update to its Dislocated Worker Program report." But a Medtronic spokesman says that tidbit should really be front and center in reports about the local job losses.
Medical biz prof Stephen Parente on Medtronic move: "It's kinda hard to see this occur"
"This is part of the charge we took in Q4 related to workforce reductions," Medtronic spokeswoman Cindy Resman writes us in an email. "We announced that charge as part of our earnings announcement."
"While we've had to make some organizational changes, we've also added jobs," she continues. "Our current employee number is more than 49,000. Last year we reported 46,000."
Planned before last month's announcement or not, headlines like "Medtronic discloses Minnesota job cuts" still can't be comforting to Governor Dayton, who, despite Minnesota's impressive economic performance during his term, has been accused of waging a war on jobs by at least one of his Republican challengers.
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