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St Jude to cut 500 more jobs under realignment

Thu Nov 1, 2012 7:45pm EDT

Nov 1 (Reuters) - St Jude Medical Inc, a maker of heart devices, said it will cut 500 more jobs under its reorganization plan announced in August, when it realigned its business into two operating units and eliminated 300 jobs.

It expects to incur additional pre-tax charges of about $40 million to $60 million related to the additional cuts, the company said in a regulatory filing on Thursday.

The company has now slashed its global workforce by 5 percent and expects to incur total charges of between $150 million and $200 million through fiscal 2013.

St Jude shares closed at $38.77 on Thursday on the New York Stock Exchange.
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