Worcester Business Journal

wbjournal.com | November 26, 2018 | Worcester Business Journal 5 B R I E FS Boston Scientific planning layoffs Marlborough medical device maker Boston Scientific has announced a restructuring plan including up to $150 million in annual cuts. e biotech giant plans to begin the cost-cutting activi- ties in 2019 with the goal of substantial completion by the end of 2021. e program is expected to reduce annual pre-tax operating expenses by $100 million to $150 million by the end of 2022. A substantial portion of the savings will be reinvested in strategic growth initiatives. In regulatory filing ursday, Boston Scientific said its employee base will remain relatively unchanged aer the restructuring, but new jobs in areas of growth will be created as "limited head- count reductions" take place from the restructuring. Worcester shouldn't try bikesharing again Framingham has granted a license to bikesharing firm Zagster to operate its Pace bike service in the city. Worcester gave bikesharing a try with Chinese firm ofo in 2018, but that program ended aer less than a year when the company pulled out of Worcester in July. When polled online, just over half of WBJ readers said bikesharing isn't for Worcester. F L AS H P O L L Should Worcester try again with bikesharing? Yes. ofo was popular. 11% "There is always a trade off with bike sharing. We see them laying on the ground in our town, seemingly abandoned. But at least they are getting used." COMMENTS: "Traveling to other cities including Austin and San Francisco, you get to see how widespread the bike and electric motor-scooter sharing is. The electric motor-scooter is very useful to get around when you want to look at the city without renting a car." Yes. The city should do its research and land a more secure service without the risk of damaged or stolen bikes. 37% UPS buys Shrewsbury, Gra- ton site for $18.3M United Parcel Service has purchased more than 200 acres in Graon and Shrewsbury as it prepares to build an 800,000-square-foot distribution facility. According to land records with the Worcester County Registry of Deeds, the shipping giant purchased several dif- ferent parcels from two different owners for a combined $18.3 million. e land straddling the Graf- ton-Shrewsbury line was purchased from Aruss Investments Inc., Tonuse Inc. and the Worcester Business Devel- opment Corp. Mark Donahue, an attorney with Worcester-based Fletcher Tilton rep- resenting UPS, told the Graon Board of Selectmen last month the company would be investing north of $280 mil- lion to bring up to 1,500 jobs. He said the project was working on a shortened timeline, so property acqui- sition would likely happen before the end of 2018 and before any other town approvals were obtained. Continued on next page Member DIF (800) 322-8233 | countrybank.com Member FDIC *$10,000 in new money is required to open this account (i.e., funds not already with Country Bank). Minimum balance to earn the Annual Percentage Yield (APY) is $10,000. These rates are effective September 15, 2018. Early withdrawal penalties may be imposed if you withdraw any portion of the principal balance before maturity. At the end of the term, the 18 month certificate of deposit (CD) will renew as a 15 month CD and the 6 month CD will renew as a 6 month CD, receiving the interest rates and APYs in effect at that time. Fees may reduce earnings on the account. This offer can be withdrawn at any time. 18 month cd * 2.75 2.72 6 month cd * 1.85 1.83 MORE FOR TOMORROW. so you can get GREAT RATES TODAY, Knowledge + Experience + Trusted Advice. It all adds up. Large enough to serve the needs of most businesses and individuals; small enough to offer the personal attention you expect and deserve. Greenberg, Rosenblatt, Kull & Bitsoli, PC Certified Public Accountants 306 Main Street, Suite 400 • Worcester, MA 01608 508.791.0901 • www.grkb.com No. The benefit of the service doesn't justify the cost. 30% No. Worcester is too unfriendly to bikes with its hills and busy streets. 22% Michael Mahoney, CEO & president, Boston Scientific

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