On Wednesday, Boston Scientific Corp. released its plans to indulge in some major restructuring moves, which would include axing of up-to 1,300 jobs, making changes to management roles throughout the business and promoting its Financial Chief.

The move was announced by the medical equipment firm while announcing that it has reported a smaller-than-expected loss for the past year's fourth-quarter, despite excessive charges linked to resolving of patent fights with giant Johnson & Johnson over heart stents.

The revenue of the company, however, was in-line with Wall Street expectations.

Also, while announcing all the other details, the firm revealed its complete year guidance for 2010, however, that included a sales range which was generally below the average forecast of analysts.

"The sales look a little bit light in some key areas -- particularly ICDs (implantable cardioverter defibrillators) and stents. The outlook range is quite large -- it does encompass the consensus for revenues", said Morgan Joseph analyst Bruce Jackson.