Smith+Nephew (NYSE:SNN) has confirmed that job roles will be phased out in Tennessee, in response to an inquiry from MassDevice today.
“Our aim is to evolve into a more efficient and dynamic entity,” a representative conveyed via email. “While optimizing our operations in Memphis, we’ve identified certain functions that are no longer necessary in their current form.”
“Regrettably, this translates to approximately 150 positions being rendered redundant,” the spokesperson added. “We are ensuring that those affected are handled with the utmost dignity and respect, adhering to our core principles.”
Specific details on the timeline for these layoffs were not disclosed, although a senior product development engineer shared on LinkedIn about being informed that their team’s final working day is set for December 20.
Based in Watford, England, Smith+Nephew holds the position as the 24th-largest company globally in the medical device industry (as per the 2024 Medtech Big 100 ranking by Medical Design & Outsourcing) and ranks fifth-largest among orthopedic device companies.