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Stryker Corporation Message Board

  • ragtimejoe41 ragtimejoe41 Nov 5, 2012 6:58 PM Flag

    Excise Tax

    Is there ANY evidence that Stryker has laid off 5% of its work force in anticipation of the medical device excise tax, as reported by pundits? Is Stryker no longer a growth company or is this somebody's political spin?

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    • Just spin. A good justification for the layoffs that have accompanied integration of their 10 (that's ten!) acquisitions since 2010 started. If you ever wondered which way MacMillan was inclined to spin it, just watch his numerous appearances on Fox Business.

      As far as whether SYK is still a growth company, yes, though at much slower rates than the boom which accompanied the mass adoption of orthopedic implants. The attempt to increase this growth rate is why they've bought so many other companies.

    • The 5% reduction in force was announced more than a year ago (long forgotten by the time it would be political spin). I hope Stryker is still a growth company, but it had to address the additional cost of an excise tax on US sales of its devices, which it chose to do with a reduction in force. Just as elections have consequences, so do taxes.

      Sentiment: Hold

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