Skip to Main Content

Boston Scientific said Thursday that it’s cutting wages for many of its roughly 36,000 global employees by 20% for the next 90 days because the postponement of elective surgeries during the coronavirus pandemic has decreased revenue.

The Marlborough, Mass., medical device maker also plans to make deeper cuts to the base salaries of its chief executive, Mike Mahoney, and those of its board of directors and executive committee. Boston Scientific predicted that the impact of Covid-19 will be worse in the second quarter.

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED