"Forward" to the Obama Layoffs

Posted: Nov 08, 2012 7:15 PM

 Aggregated at Twitchy are a selection of tweets from small business owners who have been forced, unwillingly, to fire employees in order to survive a second Obama term. Perhaps one of the most poignant was this: "This morning dad was sad because he knew he'd have to lay off people due to ObamaCare costs. #ThanksObama."

There are larger businesses already announcing layoffs, as well. Among those doing so just in the 48 hours since President Obama was reelected are:

Westinghouse, Research in Motion Ltd., Lightyear Network Solutions, Providence Journal, Hawker Beechcraft, Boeing, CVPH Medical Center, ING,Momentive Performance Materials,  Husqvarna, SRA International,  Darden Restaurants,, Rocketdyne, and Rockwell Collins.

Companies that have announced layoffs in the past month include Cummins, Bristol Myers, Corning, Lockeed Martin, Kimberly Clark, Dow Chemical and Zynga.

If that isn't enough, here's what we have to look forward to thanks to the new ObamaCare taxes:

Boston Scientific anticipates $100 million in additional taxes next year, with layoffs to follow. Medtronic estimates a $175 million loss in 2013 and will cut 1,000 workers. Stryker plans 1,170 job cuts.

Other medical manufacturers will follow: Smith & Nephew, with 770 layoffs; Abbott Labs, 700; Covidien, 595; Kinetic Concepts, 427; St. Jude Medical, 300; Welch Allyn 275; and Hill Rom, 200.

What's more, as Neil Shirley points out:

Cook Medical put plans for five new U.S. manufacturing facilities on hold and will likely redirect growth overseas. Boston Scientific recently announced a $150 million investment in China over the next five years for new manufacturing facilities and 1,000 employees.

Costs will be offset with layoffs, cutting R&D, and higher prices to their customers, hospitals and provider groups. Hospitals will pass it to insurance providers, who will pass it to us in higher insurance premiums.