Thanks to Obamacare Smith & Nephew Orthopedics Laying Off 100 Workers Because of 2.3% Excise Tax on Medical Devices
Obamacare costs Americans more jobs …
The 100 employees who are being laid off at Smith & Nephew Orthopedics in Memphis, TN and Andover, MA can than President Barack Obama and Obamacare for their new found unemployment. The lay offs are being attributed to Obamacare and the excise tax was built into the Affordable Healthcare Act and took effect on January 1, 2013 that puts a 2.3% tax on medical devices. Just yet more brilliance from Barack Obama and the government take over of healthcare. With a poor economy and a jobs market that continues to struggle with job growth, Obama has done his part to make sure even more Americans lose their jobs. All in the name of taxes and increasing g revenue to pay fro his boondoggle called Obamacare.
I guess its kind of hard for you to keep your insurance and doctors like I promised if you lose your job, eh?
Smith & Nephew Orthopedics is laying off an estimated 100 employees in Memphis and Andover, Mass., citing the 2.3 percent excise tax on orthopedic device companies as the reason.
Joe Metzger, senior vice president of corporate communications for Smith & Nephew, said the tax is impacting “a number of companies across the U.S.”
“Smith & Nephew is not immune from this added expense burden,” Metzger said in a statement. “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. The company is providing the affected employees with a comprehensive severance package and outplacement support.”
Smith & Nephew employs an estimated 1,815 people in Memphis, according to Memphis Business Journal research. Metzger declined to reveal how many of the roughly 100 layoffs occurred in Memphis. A report in the Memphis Daily News, quoting anonymous sources, said there were 60 local jobs lost.
Just curious, if Obamacare is so affordable, why are people losing their jobs to pay for it?
Posted February 2, 2013 by Scared Monkeys
Barack Obama, Business, Economy, Epic Fail, Healthcare, Jobs, Layoff - Fired, Nanny State - Big Government, Obamacare, Obamatax, Socialist in Chief, Socialized Medicine, Tax & Spend Liberals, Taxes, The Lying King, Unemployment | 7 comments
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7 Responses to “Thanks to Obamacare Smith & Nephew Orthopedics Laying Off 100 Workers Because of 2.3% Excise Tax on Medical Devices”
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And so the layoffs begin. It will be like a snowball rolling downhill. More and more people will loose their employment and more and more medical professionals will choose to go into another field.
Obamacare was never about getting a superior health program for the American people. It was a socialist scam that would destroy the system.
The Chief Justice of the Supreme Court is responsible for this debacle. If there were a way to impeach this guy I would be for doing it. He was the last person who could stop this insanity and he failed.
I second that. It is a nightmare in the making.
Sorry if you were told Obamacare would cure greed. Probably reduce the price on their products since they reduced costs, yea right, file this under more for/with less
SM: Nope file this one under Obama is responsible for making more Americans unemployed. This is what happens when you put a ridiculous tax on a company. I know the term a profit margin is foreign to you. Own a business and you will comprehend it.
[...] and accountants, it made them more. It did not create 100′s of thousands of more jobs, it caused businesses to lay off workers also HERE, HERE and HERE. It did not increase employee take home pay either. It has all been one [...]
Just for giggles, I was a independent contactor for a publicly traded company at age 11, a paperboy, by 12 I fully understood overhead, profit and a fair wage. If I wanted less overhead I folded papers to avoid rubber band costs and kept the profit. Sometimes I even sub-contracted to a friend. This company shedd jobs for more profit, even a 12 year old could see that.
Hogwash. Thanks to greed these employees are being laid off. I’m tired of these elitist and ignorant mislead working-class conservatives blaming layoffs on Obama Care. I better upper management at Smith & Nephew refused to take pay cuts or reduce overhead. That’s what/who really to blame. Give me a break!
Without debating the long term effects of ObamaCare, I suggest people at least think before they jump on stupid “facts” about companies like Nephew. If every medical device mfr is paying the 2.3%, the playing field is still level. Raise prices by 2.3% and STFU. You can find better “facts” to support your dislike for Obama and ACA. High healthcare costs are a function of the healthcare industry and insurance companies, period. Nephew’s layoffs have NOTHING to do with ACA. Its an excuse. Check out their financials to learn the truth.