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DemocRAT's SHAME! Medical giant Stryker cuts 1,170 jobs, citing 'RATCare
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patriotgames@democrathallofshame.com http://www.democrathallofshame.com
Nov 17, 2012, 9:02:19 AM11/17/12
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http://www.foxnews.com/politics/2012/11/16/medical-supply-giant-stryker-corp-makes-pre-emptive-strike-against-pending/
Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
November 16, 2012
Medical supply giant Stryker is the latest company to announce job
cuts in anticipation of coming costs associated with ObamaCare, even
though the man who inherited a fortune from the company's founder is a
fan.
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.
Medical tech scion Jon Stryker, whose net worth is currently estimated
at $1.2 billion, contributed $2 million to the Priorities USA Action
super PAC and has given $66,000 in contributions to Obama and the
Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3
percent levy on medical device manufacturers and suppliers, which
critics say will raise prices on everything from pacemakers to
prosthetics to stents. Companies will be required to pay the tax
regardless if they have a profit or loss for the year. The tax is
estimated to cost the medical device industry $20 billion.
House Republicans tried to have the tax repealed, drafting a bill
called the Protect Medical Innovation Act, but the Democrat-controlled
Senate has blocked the measure.
“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,” Stryker spokeswoman Yin Becker told
FoxNews.com. “The reductions and restructuring activities are expected
to be substantially complete by the end of 2012.”
Executives for Stryker have placed the blame squarely on the coming
tax ever since it gained more steam in Washington.
"Here we are, one of the greatest industries in the country, and we're
staring down on Jan. 1, 2013 and the addition of a 2.3 percent excise
tax, while meanwhile on the other side all the discussion in
Washington is about creating jobs," Stryker President and CEO Stephen
McMillian said during a national conference of medical device
manufacturers in Washington, D.C. last September.
Positions within the company were eliminated altogether after the
announcement and have since contracted out many of their current
roster of employees to keep costs down, an employee with Stryker, who
spoke to FoxNews.com under the condition of anonymity, said.
“They really trimmed the fat with the last layoffs in 2009 and the
year after which is probably why we are finally on budget for the
first time since 1999,” the employee added.
Jon Stryker has been active in politics before the recent election; he
contributing millions to help Democratic candidates in his home state
of Michigan. He also has given nearly $250 million of his personal
wealth to groups supporting gay rights and the conservation of apes,
which led to a newly found species being named after him. In 2010, the
discovered Myanmar Snub-nosed monkey was named Rhinopithecus strykeri
by the research teams that were funded by Stryker’s Arcus Foundation.
--
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Tim Howard, Tom Sr, Tom Wheat
Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
November 16, 2012
Medical supply giant Stryker is the latest company to announce job
cuts in anticipation of coming costs associated with ObamaCare, even
though the man who inherited a fortune from the company's founder is a
fan.
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.
Medical tech scion Jon Stryker, whose net worth is currently estimated
at $1.2 billion, contributed $2 million to the Priorities USA Action
super PAC and has given $66,000 in contributions to Obama and the
Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3
percent levy on medical device manufacturers and suppliers, which
critics say will raise prices on everything from pacemakers to
prosthetics to stents. Companies will be required to pay the tax
regardless if they have a profit or loss for the year. The tax is
estimated to cost the medical device industry $20 billion.
House Republicans tried to have the tax repealed, drafting a bill
called the Protect Medical Innovation Act, but the Democrat-controlled
Senate has blocked the measure.
“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,” Stryker spokeswoman Yin Becker told
FoxNews.com. “The reductions and restructuring activities are expected
to be substantially complete by the end of 2012.”
Executives for Stryker have placed the blame squarely on the coming
tax ever since it gained more steam in Washington.
"Here we are, one of the greatest industries in the country, and we're
staring down on Jan. 1, 2013 and the addition of a 2.3 percent excise
tax, while meanwhile on the other side all the discussion in
Washington is about creating jobs," Stryker President and CEO Stephen
McMillian said during a national conference of medical device
manufacturers in Washington, D.C. last September.
Positions within the company were eliminated altogether after the
announcement and have since contracted out many of their current
roster of employees to keep costs down, an employee with Stryker, who
spoke to FoxNews.com under the condition of anonymity, said.
“They really trimmed the fat with the last layoffs in 2009 and the
year after which is probably why we are finally on budget for the
first time since 1999,” the employee added.
Jon Stryker has been active in politics before the recent election; he
contributing millions to help Democratic candidates in his home state
of Michigan. He also has given nearly $250 million of his personal
wealth to groups supporting gay rights and the conservation of apes,
which led to a newly found species being named after him. In 2010, the
discovered Myanmar Snub-nosed monkey was named Rhinopithecus strykeri
by the research teams that were funded by Stryker’s Arcus Foundation.
--
The DemocRATs Hall of Shame©!
http://www.democrathallofshame.com/
10,000+ Buckwheat & DemocRAT Pics!
Over 10 Million Hits Since 2/10!
11/04/12: Galleries Updated!
Nearly 200 New OBAMA & 'RAT Cartoons Added!
FREE Windows® Gadgets!
Learn the TRUTH about: Bradley K Sherman, Bret Cahill, Dakota, David Johnston, Kevin Cunningham,
Kurt Lochner, Jay Herblock, Lamont Cranston, Lee Curtis, LiberalHere, Lookout, Lickin Ass' and
Fakin' Military Service, Lubow, Mitchel Holman, Ramon Herrera, Ray Fischer, Rightardia, RobW,
Roneal, Sanders Kaufman, ShittingDuck, Sid9, SilentOtto, Sir Gay, Tater Gumfries, Tim Crowley,
Tim Howard, Tom Sr, Tom Wheat
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