Top US Companies Plan Layoffs Because of Obamacare

Friday, 09 Nov 2012 04:00 PM

By Bill Hoffman

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Nearly a dozen top United States companies plan to start laying off hundreds of employees with the implementation of Obamacare, according to the non-profit political action group FreedomWorks.
 
FreedomWorks compiled the list, reported in Friday’s Washington Times, from statements made by the firms since President Barack Obama’s healthcare mandate was passed.
 
The firms include:
  •  Welch Allyn — a manufacturer of medical diagnostic equipment in central New York — which says it will cut 275 employees, about 10 percent of its workforce, over the next three years.
  •  Dana Holding Corp. — a global auto parts manufacturing company — which warned of layoffs due "$24 million over the next six years in additional U.S. healthcare expenses.’’
  •  Stryker — a medical device manufacturer — which plans to close its facility in Orchard Park, N.Y., eliminating 96 jobs in December. They also say they’ll slash 5 percent of their global workforce, about 1,170 positions.
  • Boston Scientific — a medical device manufacturer — said it plans to cut between 1,200 and 1,400 jobs, while shifting investments and workers overseas to China.
  • Medtronic — a medical device maker — which cut 500 positions over the summer, with 500 more set to be eliminated by the end of 2013.
Other companies promising job cuts include: Smith & Nephew — 770 layoffs; Abbott Labs — 700 layoffs; Covidien — 595 layoffs; Kinetic Concepts — 427 layoffs; St. Jude Medical — 300 layoffs; and Hill Rom — 200 layoffs.
 
Among the reasons for the layoffs: increased costs for health insurance and, in the case of medical manufacturing companies, a new medical-device tax.
 
 
 

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