Dexcom Adds to MedTech Industry Layoffs

Dexcom will contribute to the lengthy list of job losses in the medical device business this year by laying off 535 workers in California.

“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 commented.

Throughout the last 18 months, the medtech industry has experienced a steady stream of employment cutbacks, which is continued with the layoffs. Reductions in workforce have been implemented by leading medical technology businesses, such as Baxter, Zimmer Biomet and Medtronic, only this year.

Layoffs at Dexcom will follow a 24% increase in earnings to $921 million in Q1 compared to the previous year. The diabetic tech company announced $3.62 billion in total sales for 2023 in February, a 24% increase over the previous year.