Obama care has cost 100 workers in Memphis and Andover, Mass their jobs. The good people losing their job worked for Smith & Nephew orthopedic. The reason for the job loss is the 2.3 percent excise tax on orthopedic device companies.Joe Metzger, senior vice president of corporate communications for Smith & Nephew, said the tax is impacting “a number of companies across the U.S.” Mr Metzger also stated that “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’s Orthopaedic Reconstruction unit is based in Memphis, while its Advanced Wound Management, Sports Medicine and Trauma unit is based in Andover. The company merged the divisions in 2012.
Will we be seeing more of this I do believe we will in the last few months we have seen many hospitals and medical company’s laying off more and more people and I for one see more of this coming
so hold on folks I believe this is going to get much worse before it gets better