“Big lay offs coming in medical device.”
Yup, I work at one on the Mass North Shore. We’ll be accruing some $3+ million for the new tax in Jan.
We’ll be letting go a few R&D people I suspect. The are mainly Cambridge kids fresh out of engineering schools around here and I’m sure I don’t need to give you 3 guesses who they voted for.
Sweet irony.
Obamacare will be a nearly unbearable tax burden on the economy.
Who will pay? The middle-class workforce, of course.
So with another four years for President Obama to look forward to, and the obvious inevitability of Obamacare that this entails, let’s examine the very real jobs that will be lost, and the very real lives that will be affected.
Welch Allyn
Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees, or roughly 10% of their workforce over the next three years. One of the major reasons discussed for the layoffs was a proactive response to the Medical Device Tax mandated by the new healthcare law.
Dana Holding Corp.
As recently as a week ago, a global auto parts manufacturing company in Ohio known as Dana Holding Corp., warned their employees of potential layoffs, citing “$24 million over the next six years in additional U.S. health care expenses”. After laying off several white collar staffers, company insiders have hinted at more to come. The company will have to cover the additional $24 million cost somehow, which will likely equate to numerous cuts in their current workforce of 25,500 worldwide.
Stryker
One of the biggest medical device manufacturers in the world, Stryker will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obamacare by slashing 5% of their global workforce - an estimated 1,170 positions.
Boston Scientific
In October of 2009, Boston Scientific CEO Ray Elliott, warned that proposed taxes in the health care reform bill could “lead to significant job losses” for his company. Nearly two years later, Elliott announced that the company would be cutting anywhere between 1,200 and 1,400 jobs, while simultaneously shifting investments and workers overseas - to China.
Medtronic
In March of 2010, medical device maker Medtronic warned that Obamacare taxes could result in a reduction of precisely 1,000 jobs. That plan became reality when the company cut 500 positions over the summer, with another 500 set for the end of 2013.
Others
A short list of other companies facing future layoffs at the hands of Obamacare:
•Smith & Nephew - 770 layoffs
•Abbott Labs - 700 layoffs
•Covidien - 595 layoffs
•Kinetic Concepts - 427 layoffs
•St. Jude Medical - 300 layoffs
•Hill Rom - 200 layoffs
Beyond the complete elimination of a significant number of American jobs is another looming problem created by the health care law - a shift from full-time to part-time workers.
Companies like Kroger and Darden are already shifting or contemplating a shift to part-time employees.
Full article: http://www.freedomworks.org/blog/grusbf5/good-morning-america-heres-those-layoffs-you-voted