Best of 2012 November – Thousands Of Layoffs Pending Due To Obamacare-Many Starting Now
Something you didn't hear about during the post-election gushing in the mainstream media, thousands-possibly tens of thousands of Obamacare related layoffs.The Washington Times has assembled a list of large companies who are planning significant layoffs due to increased costs from Obamacare, and doubts they can increase earnings enough to offset those costs. Due in large to a probable sluggish economy, these firms are taking 'proactive' steps to keep themselves from going out of business.
Some of these companies include:
- Welch-Allyn: the well-known company that makes medical diagnostic equipment, plans to cut 10% of it's workforce over the next 3 years, or about 275 people. If you've been to the doctor anytime in the last decade, you probably saw "Welch-Allyn" stamped somewhere on the tools your doctor used to check your blood-pressure, temperature, or many other areas.
- Dana Holding Corp: those of you in the auto parts industry have heard of them. This Ohio-based company estimates at least a $24 million dollar hit due to Obamacare, and numerous cuts in workers will be made in the next couple of years.
- Stryker: one of the biggest manufacturers of medical devices (including many of the beds you've seen in our area hospitals) will close their facility in Orchard Park, New York, dropping 96 jobs, and as many as 1,170 worldwide.
Other companies planning Obamacare-related cuts include:
Smith & Nephew - 770 layoffs
Abbott Labs - 700 layoffs
Covidien - 595 layoffs
Kinetic Concepts - 427 layoffs
St. Jude Medical - 300 layoffs
Hill Rom - 200 layoffs
Beyond the complete elimination of a significant number of American jobs is another looming problem created by the health care law - a shift from full-time to part-time workers.
But it doesn't stop there. Hundreds of companies, due to the mandates of the law, will be forced to reduce many full-time workers to less than 28 hours a week. In order to avoid paying millions in costly Obamacare penalties companies will have to reduce the hours of what are called "non-exempt" or hourly workers. Kroger, the major store chain, reports these cuts to what is essentially part-time work, could affect tens of thousands of workers.
So this is what the nation voted for last Tuesday.
(Note: This was one of our most viewed stories of all of 2012!)