While Obama Celebrates Inauguration Companies Continue to Slash Jobs
The list of American jobs disappearing — many of them due to Obamacare — continues to grow.While Obama and celebrated his $40 million inauguration with balls and parties, American companies continued to hand out pink slips.
The following is a continuation of the list of American and international companies that have, or will, cut jobs due to the burdens of Obamacare and the sluggish economy:
- American Express: cutting 5,400 jobs, nearly 9% of its workforce
- DISH Network Corp. will be closing approximately 300 Blockbuster stores nationwide, impacting about 3,000 employees. Which stores will be shut down has not been announced yet. (DISH acquired the movie rental chain out of bankruptcy in 2011).
- The Cargill Meatpacking Company has announced it will be closing a processing plant in Plainview, TX and lay off nearly 2,000 workers (largely due to economic fallout and issues from recent droughts and reduced cattle herds).
- The Sweetbay grocery store chain in Florida will close 33 of its 105 stores, impacting over 2,000 workers. A sluggish economy has led to what the corporation calls under-performing stores.
- Dana Corporation, a world-wide auto parts manufacturer and supplier, will be having to cope with $24 million in new costs due to Obamacare. Company officials say significant cuts will be made from their total workforce of 25,200.
- Medtronic, a medical device manufacturer, plans to shed another 500 jobs this year, after cutting 500 last summer.
- Abbott Labs, part of the noted pharmacy and drug making company, plans to cut 700 jobs.
According to the magazine Free Enterprise, JP Morgan experts say as many as 8.3 million more Americans could be unable to find full-time work. From Freedom Works, November 2012:
“8.3 million people are working in part-time jobs even though they’d prefer full-time work. Unfortunately, because of President Obama’s health care law, the Patient Protection and Affordable Care Act (PPACA), workers in the hotel, restaurant, and retail industries could be pushed into part-time jobs working less than 30 hours per week.”
Companies struggling to meet the costs of Obamacare are going to do everything they can to keep as many workers at 30 hours a week or less. We have already seen that begin to happen with such companies as Applebees and other restaurant chains.