Masimo to lay off 75 employees next month

Patient monitoring company Masimo is laying off 75 employees next month at its Irvine, California, location.

The company filed a Worker Adjustment and Retraining Notification in November, which said the layoffs would take effect by Jan. 13.

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"Our focus is on positioning Masimo to achieve its significant long-term growth potential," said a Masimo spokesperson in a statement. "We are allocating resources to fewer projects, concentrating on sizable market opportunities that address clear unmet needs, and ensuring we can continue to invest heavily in innovation."

Joe Kiani resigned as chairman and CEO in September after shareholders voted him from the board following a proxy fight with activist hedge fund Politan Capital Management.

Michelle Brennan, a former Johnson & Johnson executive, was appointed interim CEO. During her more than 30-year tenure at J&J, she oversaw global medical device and consumer pharmaceutical businesses.

The layoffs are part of a broader wave of job cuts in the medtech sector this month. Acutus Medical, a cardiac electrophysiology device company, plans to cut 70% of its workforce.

Embecta, a diabetes care company, filed a WARN notice Nov. 26 to lay off 118 employees. Solventum, a spinoff of 3M’s healthcare business, is laying off an unspecified number of employees, according to the Minnesota Star Tribune.