Medical Supply Company Stryker Announced they would Lay off 1,170 Workers citing the Costs associated with Obamacare.
You get what you vote for … get ready to add some more to future first time unemployment filers thank to Obama’s reelection and Obamacare.
Medical supply giant Stryker has announced that they will be laying off 1170 workers due to the costs associated with Obamacare. Many of you in blue states appear to be getting exactly what you voted for, including those who owned businesses that would be directly harmed by Obama’s reelection and you supported him any how. The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder’s grandson was one of the largest contributors to President Obama’s re-election campaign. Brilliant, simply brilliant! What fool would knowingly support a president with policies that would directly harm his business and cost employees jobs?
Kalamazoo, Michigan – November 10, 2011 – Stryker Corporation (NYSE:SYK) announced its intention to implement focused workforce reductions of approximately 5% of its global workforce and other restructuring activities that are anticipated to reduce annual pre-tax operating costs by over $100 million beginning in 2013. The targeted reductions and other restructuring activities are being initiated to provide efficiencies and realign resources in advance of the new Medical Device Excise Tax scheduled to begin in 2013, as well as to allow for continued investment in strategic areas and drive growth despite the ongoing challenging economic environment and market slowdown in elective procedures. The reductions and restructuring activities are expected to be substantially complete by the end of 2012. Stryker will provide employees affected by these reductions with severance packages, counseling and job placement services.
The Company expects to record pre-tax restructuring charges related to these reductions and restructuring activities totaling approximately $150 million to $175 million, of which approximately $85 million to $95 million are expected to be recorded in the fourth quarter of 2011.
“As our markets continue to evolve, these actions are part of our ongoing focus on quality, innovation and cost, and position the Company to continue to provide strong, consistent growth in a changing environment,” said Stephen P. MacMillan, Chairman, President and Chief Executive Officer. “Against this backdrop, we are committed to achieving consistent double-digit per share earnings growth in 2011 and beyond.”
You can add these unemployment numbers directly to Obama’s reelection and a company that chose ideology over its employees.