Aiming to slash its gross expenses by $200 million to $250 million over the two-year period from the 2009 base, the medical-devices company Boston Scientific Corp. Wednesday announced some all-encompassing restructuring moves - including promotion of its financial chief Sam Leno as the Chief Operations Officer; changing management roles all across its business; and laying-off nearly 1,300 employees.

The restructuring moves announced by Boston Scientific were being expected by most analysts; and came close on the heels of the company’s earnings report depicting a narrower-than-anticipated fourth-quarter loss.

Among the several restructuring moves that Boston Scientific is planning, it is also working on the amalgamation of its stent-making cardiovascular division and its heart-rhythm business acquired with Guidant Corp. in 2006.

Planning to shift places within its management ranks, other than the promotion of Leno, who will be replaced by the chief accounting officer and corporate controller Jeff Capello from March 1, Boston Scientific will also change some other management positions. In addition, 1,000 to 1,300 non-manufacturing employees, out of a 25,000-strong overall workforce, will be laid-off by the company.

Noting that the changes “are aimed at driving innovation, accelerating profitable growth and increasing both accountability and shareholder value,” CEO Ray Elliott said the restructuring moves will help the company “place greater emphasis on stimulating sales growth, assessing business portfolio opportunities and expanding operating profit margins.”