From Fox News: A global medical technology company has laid off nearly 100 employees at its offices in Tennessee and Massachusetts and is blaming the layoffs on the medical device tax tied to ObamaCare.
London-based Smith & Nephew said Thursday it laid off fewer than 100 employees between the two offices, which operate as the company's advanced surgical devices unit, according to The Commercial Appeal....
"Unfortunately, and in order to absorb this cost burden into our business, this has meant less than 100 positions have been made redundant across various departmental functions in our Tennessee and Massachusetts sites," the statement read.
In November, medical supply company Stryker announced it would cut 1,170 jobs, or five percent of its worldwide workforce, in anticipation of costs associated with ObamaCare.
The Advanced Medical Technology Association estimates that the medical device tax could cost up to 43,000 U.S. jobs.
Read more: http://www.foxnews.com/politics/2013/02/01/memphis-based-medical-company-lays-off-100-blames-obama-care/#ixzz2JjBsmE8U
I'm sure that the people being lid off are just so happy that a 35 year old living in in the basement of their parents house and is on their parent's insurance and yet they are out of a job.
But hey, it's for the children.
Sunrise — 6:50.
1 hour ago
Are the corporations making these decisions blameless? Are medical device sales usally running on paper-thin profit margins? Hardly. This seems like excuse making in order to cut some (apparently redundant?) payroll.
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