Recent

% | $
Quotes you view appear here for quick access.

Hewlett-Packard Company Message Board

  • page.roler page.roler Nov 9, 2012 2:39 PM Flag

    Congrats D-BAAGGGSS....Companies massive layoffs due to so cia lize medicine........................

    Companies plan massive layoffs as O ba . ma....care becomes reality

    Welch Allyn

    Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees, or roughly 10% of their workforce over the next three years. One of the major reasons discussed for the layoffs was a proactive response to the Medical Device Tax mandated by the new healthcare law.

    Dana Holding Corp.

    As recently as a week ago, a global auto parts manufacturing company in Ohio known as Dana Holding Corp., warned their employees of potential layoffs, citing "$24 million over the next six years in additional U.S. health care expenses". After laying off several white collar staffers, company insiders have hinted at more to come. The company will have to cover the additional $24 million cost somehow, which will likely equate to numerous cuts in their current workforce of 25,500 worldwide.

    Stryker

    One of the biggest medical device manufacturers in the world, Stryker will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obamacare by slashing 5% of their global workforce - an estimated 1,170 positions.

    Boston Scientific

    In October of 2009, Boston Scientific CEO Ray Elliott, warned that proposed taxes in the health care reform bill could "lead to significant job losses" for his company. Nearly two years later, Elliott announced that the company would be cutting anywhere between 1,200 and 1,400 jobs, while simultaneously shifting investments and workers overseas - to China.

    Medtronic

    In March of 2010, medical device maker Medtronic warned that Obamacare taxes could result in a reduction of precisely 1,000 jobs. That plan became reality when the company cut 500 positions over the summer, with another 500 set for the end of 2013.

    Others

    A short list of other companies facing future layoffs at the hands of Obamacare:

    Smith & Nephew - 770 layoffs
    Abbott Labs - 700 layoffs
    Covidien - 595 layoffs
    Kinetic Concepts - 427 layoffs
    St. Jude Medical - 300 layoffs
    Hill Rom - 200 layoffs

    Beyond the complete elimination of a significant number of American jobs is another looming problem created by the health care law - a shift from full-time to part-time workers.

    Sentiment: Hold

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Boy that 2.3% tax must be a crushing blow. Let's look at the facts:

      Welch-Allyn -- moving more production to Mexico

      Stryker: Bought Gaymar, shutting its plants down less than 2 years later. Typical Bain-style consolidation.

      Boston Scientific -- weak market, heightened scrutiny over effectiveness of cardiac products = layoffs

      Medtronics -- same products, same problems as #$%$. But will ramp up offshore hiring.

      Dana -- bankrupt auto parts maker slashing payrolls, closing plants, just to survive.

      I'm going to assume the other companies are "rightsizing" for other similar reasons.

 
HPQ
28.03+0.24(+0.86%)Aug 28 4:01 PMEDT