Government is AWESOME! New fees cause company to cut costs by laying off 5% of workforce (health care, premium)

[summers73]

Obamacare is AWESOME!

Stryker to cut 5% of workforce | Detroit Free Press | freep.com (http://www.freep.com/article/20111111/BUSINESS06/111110345/Stryker-cut-5-workforce?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAG E%7Cs - broken link)

[Roadking2003]

It's small, but the cumulative effect will be felt for years and years.

"Stryker, the Kalamazoo-based maker of artificial hips and knees, will cut 5% of its global workforce by the end of next year to reduce costs in the face of new fees on device makers required by the U.S. health care law."

Stryker to cut 5% of workforce | Detroit Free Press | freep.com (http://www.freep.com/article/20111111/BUSINESS06/111110345/Stryker-cut-5-workforce?odyssey=mod|newswell|text|FRONTPAGE|s - broken link)

[summers73]

b-b-b-b-b-ut they would've laid these people off even without the excise tax!

[J746NEW]

I wonder how much money this company gets from the government to begin with via medicare and other programs?

[DC at the Ridge]

And most of those thousand jobs won't be American jobs.

Stryker Corp.'s plan to cut its workforce may mean 112 jobs lost in the Kalamazoo area; market slowdown, new excise tax has it looking for $100 million in cost savings | MLive.com

[summers73]

Originally Posted by DC at the Ridge

And most of those thousand jobs won't be American jobs.

Stryker Corp.'s plan to cut its workforce may mean 112 jobs lost in the Kalamazoo area; market slowdown, new excise tax has it looking for $100 million in cost savings | MLive.com

Zero evidence that it won't impact US workforce. Only 11.1% are being cut in HQ area. I would venture that a majority would be US workforce since it costs more to maintain US workers.

[Mircea]

We all knew that was coming.

As soon as employers know the full cost of Obamacare, and that won't happen for another 2 years, in fact, it will never end (because HHS will be cranking out regulations for the next decade that will drive up health care costs) employers will start either be force to drop their health care plans or lay off employees in order to pay for the health care plans.

[DC at the Ridge]

Originally Posted by summers73

Zero evidence that it won't impact US workforce. Only 11.1% are being cut in HQ area. I would venture that a majority would be US workforce since it costs more to maintain US workers.

I didn't say it wouldn't impact the US workforce. You imply that as a way to discredit my post. I would venture that you have no foundation for your assertion that the majority of people laid off would be American workers. This is a lay-off of GLOBAL workers. Not US workers.

[KUchief25]

MF Global just fired it's entire work force too 1000+. Ran by Obama's buddy and 500K dollar campaign bundler John Corzine. 40 billion in liabilities and 1.5 billion in assets. How is this allowed to happen? Well just be buddies with the regulators of course. Also 600 million in depositors money missing. Those damn evil rich republicans. Oops Corzine wore the D. LOL fools.

[J746NEW]

Looks like Stryker would be hurting a lot worse, were it not for their sugar daddy gov to prop them up.


Stock:Stryker (SYK))

Medicare's failure to coverage of premium products can hurt SYK's sales
Health coverage is an important determining factor when patients and doctors choose among various treatment options. Medicare coverage is particularly significant in that it directly affects over forty million Americans, how much patients have to pay for Stryker products, and how much Stryker will receive in payments from Medicare. Currently, Medicare and other third party payors are emphasizing more cost-effective products and therapies, by limiting the reimbursement they will cover. Furthermore, even if a new SYK implant or product is cleared by the FDA, Stryker faces limited demand until Medicare and other payors approve it for reimbursement. For example, SYK's artificial spine discs haven't received broad adoption because Medicare does not reimburse for this expensive procedure on a national basis.