Smith & Nephew prepares for to axe job despite shares rise
Smith & Nephew saw its shares rise after Europe’s biggest artificial knee and hip maker said it would save 95m in costs over the next two years by cutting around 770 jobs.
The firm, which employs 11,000 people worldwide including 1,200 in the UK, said it was still to decide in which countries the axe would fall on these administrative jobs.
The joint maker is set to axe jobs in the UK
Smith & Nephew (up 27.5p to 640p) also posted full-year pre-tax profits down 5.3pc to 537m, due to a slowdown of costly surgeries in its core US and European markets.
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