The company reported $3.961 billion in revenue for the third quarter. It intends to reduce its workforce by 4-5 percent through cost-saving measures that include tighter expense management and voluntary programs to minimize layoffs. The company is making these changes "to position Medtronic for long-term sustainable growth," according to the release. Read the news release on the restructuring of Medtronic. Read other coverage on Medtronic: – Medtronic Receives First FDA Clearnce in Pediatric AIS Category for CD Horizon Spinal System – Medtronic's CEO to Retire Next April – Medtronic Launches KYPHON Express Curette