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Layoffs: Medical device companies cut 2,000 jobs in 2 months
Mass Device ^ | September 14, 2012 | MassDevice staff

Posted on 09/17/2012 8:55:45 AM PDT by Sopater

Cost-cutting moves by medical device companies have resulted in the loss of more than 2,000 jobs over the past 2 months.

Medical device companies are molting at a reptilian rate, shedding more than 2,000 jobs over the past 2 months as they look to slash costs across the board.

Several of the med-tech companies that are scrapping jobs say the 2.3% medical device excise tax in the Patient Protection and Affordable Care Act, slated to begin in January 2013. Others deny that the tax is the sole cause of their moves, saying it's a factor but not determinative.

Seven medical device companies have announced restructuring plans involving layoffs since July 13

(Excerpt) Read more at massdevice.com ...


TOPICS: Government; News/Current Events
KEYWORDS: bhohealthcare; healthcare; jobs; layoffs; medicaldevices; medicine; obamacare; obamacarelayoffs
With all due respect Mr. President, you're going the wrong way.
1 posted on 09/17/2012 8:55:48 AM PDT by Sopater
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To: Sopater
Others deny that the tax is the sole cause of their moves, saying it's a factor but not determinative.

Right. I'm sure the demand for medical devices is declining.

2 posted on 09/17/2012 8:59:15 AM PDT by VeniVidiVici (Congrats to Ted Kennedy! He's been sober for two years now!!)
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To: Sopater

I hate Obama beyond words. L


3 posted on 09/17/2012 8:59:55 AM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: Sopater

We definitely need to re-elect BH0 so that we can apply to countries we’ve given foreign aid to return the money because the great leader needs it.


4 posted on 09/17/2012 9:05:33 AM PDT by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: Sopater

Obamacare is working!!!!!!!..........


5 posted on 09/17/2012 9:05:33 AM PDT by Red Badger (Anyone who thinks wisdom comes with age is either too young or too stupid to know the difference....)
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To: Sopater
Several of the med-tech companies that are scrapping jobs say the 2.3% medical device excise tax in the Patient Protection and Affordable Care Act...

Democrats told us the primary purpose of the vaunted Patient Protection and Affordable Care Act was to reduce the cost of healthcare.

Imposing new taxes on medical devices is certainly an odd way of reducing costs, however.

6 posted on 09/17/2012 9:05:57 AM PDT by okie01 (THE MAINSTREAM MEDIA; Ignorance on parade.)
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To: Sopater

So where are the jobs going China?


7 posted on 09/17/2012 9:06:20 AM PDT by Average Al (The Democrat party is a free range zoo.)
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To: okie01

Probbly the most cold-blooded, stupid thing I have ever heard of is taxing the handicapped for their wheelchairs , walkers, & potty chairs.

Obama’s made up war against women is nothing compared to Obama’s war against the handicapped, the aged, the infirm.

Does America really need the monay so badly we tax those already in trouble because of failing health?

Nancy —is this what you meant when you said pass it to find out what is in it?


8 posted on 09/17/2012 9:10:07 AM PDT by Venturer
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To: okie01
Democrats told us the primary purpose of the vaunted Patient Protection and Affordable Care Act was to reduce the cost of healthcare.

Didn't Democrats also say that it was a "jobs bill"?
9 posted on 09/17/2012 9:10:30 AM PDT by Sopater (...where the Spirit of the Lord is, there is liberty. - 2 COR 3:17b)
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To: Average Al
So where are the jobs going China?

I understand that manufacturing can move off-shore and revenue from devices that are built and then sold off-shore do not have to be "re-patriated", thus avoiding the 2.3% excise tax on revenues.
10 posted on 09/17/2012 9:12:21 AM PDT by Sopater (...where the Spirit of the Lord is, there is liberty. - 2 COR 3:17b)
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To: Sopater

“So where are the jobs going China?”

No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.


11 posted on 09/17/2012 9:14:51 AM PDT by LoneStarC
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To: Sopater

“So where are the jobs going China?”

No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.


12 posted on 09/17/2012 9:14:56 AM PDT by LoneStarC
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To: Sopater

“So where are the jobs going China?”

No, they are going to Obamapurgatory. They will either go to China or come back home depending upon the outcome of the November 6 election.


13 posted on 09/17/2012 9:14:58 AM PDT by LoneStarC
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To: LoneStarC

Oops, sorry - double clicked.....


14 posted on 09/17/2012 9:15:57 AM PDT by LoneStarC
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To: LoneStarC
They will either go to China or come back home depending upon the outcome of the November 6 election.

They will stay off-shore if Obamacare is not repealed regardless of who wins the election.
15 posted on 09/17/2012 9:16:37 AM PDT by Sopater (...where the Spirit of the Lord is, there is liberty. - 2 COR 3:17b)
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To: Sopater
Medical device companies are molting at a reptilian rate, shedding more than 2,000 jobs over the past 2 months as they look to slash costs across the board.

They are just preparing for the onslaught of the "medical care for all" that is coming just around the corner.

It's good to see that someone in the industry is preparing for the hoards of people that will "cash in" on their free health care.

16 posted on 09/17/2012 9:19:20 AM PDT by EGPWS (Trust in God, question everyone else)
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To: Sopater

I would think the device manufacturers would move abroad to avoid all the endless lawsuits here.


17 posted on 09/17/2012 9:21:52 AM PDT by Average Al (The Democrat party is a free range zoo.)
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To: Sopater

Let’s not Obamanos.


18 posted on 09/17/2012 9:28:52 AM PDT by pallis
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To: Sopater
I know many people now jobless in this industry as a result of this and tandem taxes and edicts all traceable to the Abominable Care Act. So yes, MD mcfgs are affected as are those downstream.

Companies who purchase their products either for resale or for use in their facilities have the tax passed on to them in the form of higher device prices, and ultimately those end users or beneficiaries have these incremental costs passed along to them.

Sizable segments of the industry won't be able to absorb the hit and therefore be unable to sustain their former full employment levels due to decreased demand. This can, and almost certainly will, cascade into higher insurance premiums across the board for consumers/patients as costs are distributed among third party payors' subscriber base. Of course, higher copays are implied.

Also, to the extent these costs cannot or do not pass directly though, expect to see stepped up rationing; a different kind of cost.

Bottom line is these taxes don't exist in a vacuum (without consequences) unless you're referring to the academics/bureaucrats' minds who dreamed up this scheme.

19 posted on 09/17/2012 9:41:57 AM PDT by Dysart
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To: pallis

400 of these companies are in MA. Guess which Senate candidate doesn’t care if they leave?


20 posted on 09/17/2012 9:42:25 AM PDT by massgopguy (I owe everything to George Bailey)
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To: Sopater

2,000 is just a number. To understand the whole picture, what is that in percentages? Were the employees laid off or were these jobs merely not rehired to tighten the bottom line?


21 posted on 09/17/2012 10:05:23 AM PDT by bgill
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To: Venturer
Does America really need the monay so badly we tax those already in trouble because of failing health?

You obviously don't understand.

It was politically very important for the Obama administration and Ms. Pelosi's Democrat majority that the additional cost of The Patient Protection & Affordable Care Act come in at less than $1 (snicker) Trillion.

It was therefore absolutely necessary to tax the handicapped for their wheelchairs, walkers and potty chairs.

It was the least the handicapped, aged and infirm could do for their generous benefactors -- the Obama Administration and Ms. Pelosi's Democrat majority.

22 posted on 09/17/2012 12:35:00 PM PDT by okie01 (THE MAINSTREAM MEDIA; Ignorance on parade.)
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