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Thread: Boston Scientific to lay off 1,200-plus

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    Boston Scientific to lay off 1,200-plus

    Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 ½ years to free money for new investments, the Natick medical device maker’s second major round of cuts since last year.

    The company would not say how many jobs will be lost in Massachusetts, where fewer than 2,000 of its 25,000 employees are based. In February 2010, Boston Scientific said it would pare 1,300 jobs worldwide, but similarly did not say where.



    Yesterday’s move, a day after Boston Scientific disclosed it was investing $150 million and hiring 1,000 people in China, raised fears that the company will gradually shift more work to foreign sites with less government oversight and lower costs than the United States.

    “I’ve asked for information on where they are cutting jobs,’’ said state Senator James B. Eldridge, an Acton Democrat. He has proposed so-called clawback legislation that would allow the state to recover money from businesses that receive tax breaks here - including Boston Scientific - and then reduce their workforces.
    Boston Scientific to lay off 1,200-plus - Boston.com

    A large swath of the business community opposed the changes, arguing the legislation was too broad and had too many taxes. "This will make us one of the highest-taxed regions in the world, and that's going to have an impact on the appetite for people to invest in medical innovation," said Bill Hawkins, chief executive of Medtronic Inc., which makes medical devices. He said his company could cut at least 1,000 jobs to absorb a new 2.3% excise tax on medical-device makers.
    Landmark Health Bill Goes to Obama's Desk - WSJ.com

    Democrats in action, costing jobs, destroying wealth.
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    Re: Boston Scientific to lay off 1,200-plus

    I agree. More Democrats ruining our country and destroying jobs and wealth.
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    Re: Boston Scientific to lay off 1,200-plus

    If I remember correctly it had a provision to tax medical equipment rather heavily when their tax burden had previously been quite low.

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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by OpportunityCost View Post
    If I remember correctly it had a provision to tax medical equipment rather heavily when their tax burden had previously been quite low.
    2.3% is a heavy tax, really
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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by MrVicchio View Post
    But we're not under the highest tax burden (not for corporations) in the world. Europe out does us. ****, Germany has one of the highest, keeps its jobs. So what's different here? It's spine. We've lost our integrity. Sold it to the Chinese. Our companies have no loyality to their employees or the American people anymore. Just the shady guy in the corner flipping a nickle, looking for the next mark to come on by. And yet we defend them for some reason. People like you would have us giving more tax dollars to companies as bribes to try to keep them here. Companies here have some of the lowest tax rates of the industrialized world; hell some don't even pay taxes. And they get the best breaks, the most subsidies, why should we give them more when all they're going to do is turn tail and run to China.

    The truth isn't that our tax rate is so high that these companies are going to China. The truth is that the American market cannot compete with slave labor.
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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by Ikari View Post
    The truth isn't that our tax rate is so high that these companies are going to China. The truth is that the American market cannot compete with slave labor.
    So who and from what political party of the major two in the U.S. today is more likely to make the playing field level - or more level in the next 10 years? Progressives or Conservatives?
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by Ockham View Post
    So who and from what political party of the major two in the U.S. today is more likely to make the playing field level - or more level in the next 10 years? Progressives or Conservatives?
    Progressives. It is conservative (right wing) policies that have caused the problem in the first place.
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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by PeteEU View Post
    Progressives. It is conservative (right wing) policies that have caused the problem in the first place.
    Yes, progressives have always been a friend to business.


    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by PeteEU View Post
    Progressives. It is conservative (right wing) policies that have caused the problem in the first place.
    Can you cite unfriendly business policies from the Conservatives, and friendly policies from the Progressives?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Boston Scientific to lay off 1,200-plus

    Quote Originally Posted by Ockham View Post
    Yes, progressives have always been a friend to business.


    And regressives will never learn that sometimes the interests of the business conflict with the interests of... everyone else. Broad statements are fun!
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