Dive Brief:
- Dexcom will cut about 350 jobs globally as part of a broader restructuring, the company confirmed with MedTech Dive on Thursday.
- Company spokesperson James McIntosh said in an email the cuts make up about 3% of Dexcom’s total workforce. About 196 of the people affected are based in San Diego, where Dexcom is headquartered.
- The cuts are due to changes in Dexcom’s organizational model and operating structure, McIntosh wrote.
Dive Insight:
The layoffs follow a decision by Dexcom last year to move manufacturing from San Diego to Mesa, Arizona. At the time, Dexcom cut more than 500 jobs.
In the latest round of cuts, Dexcom is eliminating 134 operations roles in San Diego as the company continues to transition manufacturing and operations to Arizona, McIntosh wrote. San Diego will remain the company’s product innovation center and global headquarters.
The cuts cover a variety of positions, according to a California Worker Adjustment and Retraining Notification filing submitted in late August. They include manufacturing and sales jobs, as well as senior managers working in marketing, regulatory affairs, finance, mechanical engineering and other roles.
The layoffs are expected to start on Nov. 3, according to the filing.
Dexcom announced several changes in its most recent earnings call, including a leadership transition. Current CEO Kevin Sayer will step down in January, with Chief Operating Officer Jake Leach taking the helm. Dexcom is also preparing for the launch of a 15-day version of its G7 glucose monitor, which the company expects will start in the second half of the year, Sayer said in the July earnings call.
Dexcom raised its sales expectations for 2025 in its second-quarter call. The company reported revenue of $1.16 billion, a 15% increase year over year, and net income of $179.8 million, a 25% increase.
