Two Minnesota companies made two very different announcements this week.
St. Jude Medical, based in Little Canada, Minn., said Friday it's cutting 500 jobs, including 100 in Minnesota. Meanwhile, Bloomington, Minn.-based interactive developer The Nerdery announced an ambitious plan Thursday to hire 100 developers in 100 days.
The Nerdery has made Inc. magazine's list of the fastest growing private companies in its first five years of eligibility, and has roughly doubled its staff and revenue almost every year since its founding in 2003.
The growth at The Nerdery is continuing with the 100 Nerds in 100 Days campaign. Anyone referring a potential employee will get $100 if their referral gets an interview, and $500 if their referral works at least 90 days.
"Today we have, full-time, 428 Nerds," said Nerdery co-founder and CIO Mike Schmidt. "Hiring a hundred more in as many days is an audacious goal. If we don't get there it won't be for lack of trying, or real business need – but it may be because we've held firm to our own admittedly finicky hiring standards. We'll see."
The Nerdery has offices in Minneapolis, Chicago and Kansas City.
So that's the good news. But all the way across town, 100 Minnesotans are out of a job at St. Jude Medical.
The medical device manufacturer is reorganizing its product divisions and will centralize marketing, information technology and human resources.
St. Jude announced 300 layoffs in August, including 80 in Minnesota.