Layoffs Ahead: California’s Dexcom to Reduce Workforce by 535 as Part of Strategic Realignment

535 people will lose their jobs at Dexcom in California. This is another round of job cuts in the medical device business this year.

A worker adjustment and retraining notification filed with California says the first day of separation is expected to be July 26. The layoffs are related to one spot in San Diego.

As with many job cuts in the medtech business over the past 18 months, these layoffs are the latest in a long line. Top medical technology companies like Medtronic, Zimmer Biomet, Illumina, and Baxter have fired a lot of people just this year.

There are also plans to lay off workers at smaller companies like Osso VR, Agilent Technologies, and Dermtech in 2024. Cue Health also laid off hundreds of workers before closing.

“Dexcom has decided to centralize its [U.S.] manufacturing operations in Mesa, Arizona, and refocus our San Diego operations as a Global Center of Excellence for Product Innovation,” company spokesperson James McIntosh wrote in an emailed statement. 

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McIntosh didn’t answer when asked how much money Dexcom thinks the job cuts will save them. A federal filing says that the company had about 9,600 workers around the world as of December 31.

Dexcom is letting people go after its first-quarter sales grew 24% year over year to $921 million. The diabetes tech company announced $3.62 billion in sales for the whole year of 2023 in February. This was a 24% increase from the previous year as per MedTechDive.

The Food and Drug Administration gave Dexcom permission to make the first over-the-counter glucose monitor in March. Both Dexcom and Abbott got similar approvals in June. This year, they will bring their goods to the U.S. market, which could mean tens of millions of new customers for each company.

The company Dexcom will share its financial data for the second quarter on July 25. A California WARN report says that the company put 178 people out of work in 2021.

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