Posted on 02/02/2013 7:08:33 AM PST by grundle
MEMPHIS, Tenn. (CBSDC) — A medical company is blaming President Obama’s health care law for the layoffs of nearly 100 people.
Smith & Nephew says a 2.3 percent excise tax on medical devices in the “Obamacare” law caused the layoffs in the Memphis and Andover, Mass., offices.
“The nearly $30 billion tax on medical devices that took effect Jan. 1, 2013, has impacted a number of companies across the U.S.,” the company said in a statement to WHBQ-TV.
Joe Metzger, senior vice president of corporate communications for the company, tells the Memphis Business Journal that they were “not immune” to the tax burden.
“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,” Metzger told the Business Journal. “The company is providing the affected employees with a comprehensive severance package and outplacement support.”
The Business Journal reports that the company announced last February it would lay off 7 percent of its workforce worldwide.
The tax took effect on Jan. 1.
"So we raise healthcare costs, decrease medical R&D,
and force medical companies, doctors and hospitals to close up, everywhere.
What difference does it make?"
Oh, finally, someone is blaming Obama and not Bush.
This has got to be Smith & Nephew.
Yep.
Not much longer before
...have set them all on fire
They think they’ve found the new Messiah
And they’ll hurt you when they find they’re wrong
This is a local company. I know a bunch of people who work there.
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