I agree that these layoffs are intended, in part, to offset the tax hit that will occur in 2013 due to the 2% obamacare tax supported by klobuchar and franken. The company has sold this as a consolidation only because they lack the balls to confront the taxer in chief that occupys the whitehouse. Companies need to stand up to these unfair taxes and make the workers realize that taxes have consequences. Obama talks about Romney outsourcing, but then levels a 2% tax on med device companies that has an end result of lost jobs. and OUTSOURCING. At the same time, BSX has a gutless PAC that gives money to democrats because they lack the spine to speak up. If you are liberal on social issues, but conservative on spending, you need to realize that you cannot have personnal freedom without freedom from the type of government power grabs that has happened under Obama. These taxes go directly into more spending, which will put the younger generation in a real spot when they become taxpayers trying to support 50%++ of the US population that doesn't pay any income taxes - its just not sustainable. Obama says time and time again that he'll raise taxes on 'the rich'. Realize that 60% of these taxes will be on businesses. These businesses will then cut wages, cut people or outsource to make up for the profit shortfall caused by the obama/reid 'tax on the rich'. Wake up voters, wake up employees of Stryer, St. Jude, EV3, JNJ, Medtronic and BSC - your security is under attack by Obama/biden.
First of all, both Al Franken and Amy Klobuchar have said they support repealing the medical device tax since it would have a big impact on their constituents, please do your research before lying, as you know, there are already enough liars on this board: "Democrats from states with thriving medical technology industries said they, too, wanted to repeal the device tax. These Democrats include Senators Amy Klobuchar and Al Franken of Minnesota"
BSX layoffs are occurring mainly because of BSX's plunging revenues in CRM and DES, and contracting market share in the remaining market spaces it has. The 2.3% tax will apply to foreign companies that sell foreign-made medical devices in the US, so outsourcing isn't going to make the tax go away. BSX has already outsourced most of its production to Costa Rica and Ireland, so there isn't much more left to outsource anyways. And the first round of layoffs took place in Ireland, which goes to show that the US medical device tax wasn't a driver for Irish layoffs.
As for Medtronic layoffs, the new CEO of Medtronic (Ishrak) is a protege of Neutron Jack Welch from his days at GE. Ishrak is simply doing what Neutron Jack did best. A good chunk of Medtronic manufacturing is already overseas anyways, and Ishrak was planning on implementing the Neutron Jack method of firing 10% of the workforce across Medtronic anyways, regardless of the Obamacare tax.