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Boston Scientific to lay off 1,200-plus

Renae

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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.
 
I agree. More Democrats ruining our country and destroying jobs and wealth.
 
If I remember correctly it had a provision to tax medical equipment rather heavily when their tax burden had previously been quite low.
 

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.
 
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?
 
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.
 
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.


:lamo :lamo :lamo
 
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?
 
Yes, progressives have always been a friend to business.


:lamo :lamo :lamo

And regressives will never learn that sometimes the interests of the business conflict with the interests of... everyone else. Broad statements are fun!
 
Progressives. It is conservative (right wing) policies that have caused the problem in the first place.

I believe Clinton(WTO) was president when all this outsourcing to China and India started and he was no conservative or right winger. The truth is when it comes to sticking their tongues up the assholes of business owners to toss their salad the democrats are just as guilty of tossing the salad of big business as the republicans are.
 
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I believe Clinton(WTO) was president when all this outsourcing to China and India started and he was no conservative or right winger. The truth is when it comes to sticking their tongues up the assholes of business owners to toss their salad the democrats are just as guilty of tossing the salad of big business as the republicans are.

It's not like Boston scientific and other medical device manufactureres didn't warn of this when the bill was first passed. From a Boston hearad article from May 2010.

Massachusetts medical-device companies say they’ll cut back on operational costs – and jobs – after a planned 2.3 percent tax on their products is implemented in 2013, according to a new survey.
Mass. device firms see health law as burden - BostonHerald.com

I'm shocked that raising taxes over 20 billion per year on an industry would affect how those businesses act and that they would attempt to avoid as much of those taxes as possible.

The changes put forth in Obamacare have already affected the companies investment and R&D (they are making less of it).

I would be surprised if more companies in the industry didn't make this decision in the not too distant future.
 
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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?

Neither. Both will work to maintain and proliferate the status quo
 
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