ObamaCare = Layoffs

Lots and lots of layoffs now teed up:

It also means a near immediate impact on the economy.  With 20 or so new or higher taxes set to be implemented, ranging from a $123 billion surtax on investment income, through the $20 billion medical device tax, all the way down to the $600 million executive compensation limit, Obamacare will be a nearly unbearable tax burden on the economy.

Who will pay?  The middle-class workforce, of course.

So with another four years for President Obama to look forward to, and the obvious inevitability of Obamacare that this entails, let’s examine the very real jobs that will be lost, and the very real lives that will be affected.

Welch Allyn

Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees, or roughly 10% of their workforce over the next three years.  One of the major reasons discussed for the layoffs was a proactive response to the Medical Device Tax mandated by the new healthcare law.

Dana Holding Corp.

As recently as a week ago, a global auto parts manufacturing company in Ohio known as Dana Holding Corp., warned their employees of potential layoffs, citing “$24 million over the next six years in additional U.S. health care expenses”.  After laying off several white collar staffers, company insiders have hinted at more to come.  The company will have to cover the additional $24 million cost somehow, which will likely equate to numerous cuts in their current workforce of 25,500 worldwide.

That’s only the first two on a very long list. And that is just since Obama’s reelection. How many million more will follow?

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2 Responses to ObamaCare = Layoffs

  1. Sam L. says:

    This was a given, given re-election.

  2. Mockingbird says:

    Just got back from Timberfest 2012(Hilliard, FL), an industry oriented fest. Big companies were handing out promotional items like I’ve never seen before. Catepillar, Firestone, Husqvarna, RockTenn, RegionsBank, and Southeast Wood Producers Assn, etc were all soliciting interest in products and services in an almost desperate fashion.
    What I’ve never seen until today is persons asking boldly if these companies are hiring, offering that they had a Class A CDL license or 10 years experience in farm business lending, or turf and forest equipment sales and repair! It smacked me in the face; I feel really bad for these fellows of our forests, that they were asking for job prospects at this family weekend festival, with their wives and children standing right next to them.
    Cat and John Deere held a loader competition, and the announcer lady said that they were waiving the entry fee of $20.00 per participant, but please don’t ask the contest judges for employment possibilities. First prize was $600.
    This was very sad to observe, and I think a sign of things to come, at least in the pine timber industry.

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