Medical Company Blames Obamacare For Layoffs

February 2, 2013 5:01 pm  

(CBS) – 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.

http://washington.cbslocal.com/2013/02/01/medical-company-blames-obamacare-for-layoffs-of-nearly-100-people/

Lame Stream Media Exposed! True Unemployment Numbers
Everyone Counts: Big brother to log drinking habits, waist size, weight, cholesterol, BMI...

Top Stories

Obamacare Repeal Falls Off Republicans’ To-Do List as Law T... (LA Times) - After five years and more than 50 votes in Congress, the Republican campaign to repeal the Affordable Care Act is essentially over. GO...
IRS Commissioner: Obamacare Contributes to Longer Wait Times for ... (CNS News) - Internal Revenue Service Commissioner John Koskinen told members of CongressWednesday that taxpayers who call the IRS seeking help on t...
Obamacare Adds 3,322 Pages of Regs to $234 Billion Tax Complexity... (NTU) - This year’s new analysis of tax complexity from National Taxpayers Union Foundation (NTUF) found some startling lead figures: a $234 billi...
Gallup: 5 Years Into Obamacare, 11.9% of Americans Still Without ... (CNS News) - Nearly 12 percent of Americans are still without health insurance, a Gallup poll published Monday showed -- even though President Barac...
Obamacare Sticks Enrollees with Unexpected Bill (CNBC) - Last year, a study found that about four out of every 10 people who received financial help from the government while buying their Obamacar...
The Head Of Colorado’s Obamacare Exchange Thinks It May Ult... (Daily Caller) - The board chair of Colorado’s Obamacare exchange said in off-the-cuff remarks Wednesday that the state-run operation may not be ab...

Comments


Please help us stay spam-free. Mouse over a spam post and click the X to report spam.