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OBAMACARE TAX: Medical Device Maker to Eliminate 1,200 Jobs

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Robert Weisman
Boston Globe
Friday, July 29, 2011

FLASHBACK: New Tax on Medical Devices Will Kill Jobs...

Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 1/2 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.

Full story here.

This article was posted: Friday, July 29, 2011 at 1:50 pm





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