There are concerns Medtronic's decision to exit its ventilator product line will affect its Galway workforce.
A financial statement issued today said "exiting the increasingly unprofitable ventilator product line and combining the remaining businesses allows for increased investment in Acute Care and Monitoring with a focus on profitable growth."
The statement goes on to say that given this increased investment along with an improved competitive landscape, the company has strong conviction in driving durable category leadership in this newly combined business.
Medtronic is one of Galway's main employers but it's understood any job losses caused by today's decision would be spread across all its sites - Mervue and Parkmore in Galway along with two sites in Dublin and one in Athlone.
Company sources say no more than 40 redundancies are expected out of its 4,000 employees in Ireland
The company says it will honour existing ventilator contracts and expects that existing manufacturers, who today account for the majority of the market, can meet customer demand for new ventilators moving forward.
