Medical Company Smith and Nephew Lays Off 100 People Thanks to Obamacare (Video)
With hardly enough time for the ink to dry on the Labor Department’s Jobs report for January 2013, we find the following news story.
Of course with the glowing statist news media report locally based reports are likely to be missed.
We can now add Smith & Nephew to the growing list of companies who have either laid off or are cutting back the hours of their current employees.
London-based Smith and Nephew laid off 100 people in Tennessee and Massachusetts thanks to Obamacare.
CBS Local reported:
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.’
(Via Gateway Pundit.)