Stryker Corp., Kalamazoo, Mich., announced restructuring plans that include cutting 5% of its workforce.
The medical device company said the plans would cut operating costs before taxes by $100 million in 2013. A spokeswoman for Stryker, which produces orthopedic implants and medical and surgical equipment, could not be reached at deadline. As of last December, the company employed 20,036 workers. The company said in a news release that cuts should be complete by the end of next year.