St. Jude Medical cutting 500 jobs in another round of layoffs

  • Article by: JAMES WALSH , Star Tribune
  • Updated: November 2, 2012 - 12:03 AM

Med-tech company laid off 300 people in August.

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wedidntknowNov. 1, 12 6:48 PM

If Obama is re-elected, you will see massive firings among medical device companies because of the anti-business laws written in the giant Obamacare package that was rammed down our throats without knowing what was in it. A special thanks to Amy and Al who lock stepped with our community activist in chief. Super!

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kivirl4Nov. 1, 12 6:57 PM

why coulndt they have announced these layoffs a month ago, so it would make the unemployment rate go up to ruin Obamas chances?

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pitythefoolsNov. 1, 12 7:02 PM

wedidntknow: "If Obama is re-elected, you will see massive firings among medical device companies because of the anti-business laws written in the giant Obamacare package"

Another poster with no idea. No one is going to refuse grandpa a new $6,000 pacemaker because of an additional $138 tax, which is paid for by the insurance company anyway. No one is going to lose their job, in fact jobs most likely will increase. The tax is perfectly justified since the med device manufacturer will now have 50 million more potential customers than it did before Obamacare.

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kdawg1959Nov. 1, 12 7:17 PM

pitythefools, you really believe your math works? Drink some more Obama Kool-Aid..... More companies will go to part-time workers to avoid medical coverage and others will layoff or close. No big deal, we'll be socialized shortly and standing in food lines for our EBT cards.

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chavistaNov. 1, 12 7:18 PM

It's obvious that @wedidntknow Nov. 1, 12 6:48 PM has a reading problem. From the article, "Sluggish sales for implantable heart rhythm devices have affected the bottom line throughout the medical technology industry, including St. Jude. But the company has faced additional challenges after last year's recall of Riata leads, wires that connect a defibrillator to the heart, over safety concerns." There is NOTHING in Obamacare that will have an effect on St. Jude including the medical device tax. The medical device tax applies to all medical devices made in the United States or OUTSIDE the United States. They cannot move their manufacturing to China and escape the tax. Now, do you really think that anyone is going to skip a knee replacement because of a very small sales tax. If you do I've got some ocean front property to sell you up in International Falls. Besides, the tax will be paid by your insurance company, not St. Jude.

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wedidntknowNov. 1, 12 7:22 PM

pity, Are you saying that you know more than the CEO's of Medtronic, St. Jude, and Boston Scientific, because they have stated that the Obamacare regulations will do exactly what I stated earlier.

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jtsnscNov. 1, 12 7:25 PM

Thanks to obama the largest tax increase in history is just around the corner and we are seeing the results. What else can be said.

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augsburg54Nov. 1, 12 7:36 PM

Here's a simple fact, I belong to a very well known country club here in the cities and a lot of my golf buddies are well known CEO's. If Obama is elected this is only the tip of the iceberg. You are going to see mass downsizing by large companies due to the associated costs of Obamacare. So far it's only 800 well paying jobs at St. Jude and 400 well paying jobs at Medtronic (1200 jobs so far...if Pitythefools knows math) and that's only the start. Batten down the hatches for it will be a long four years.......not too mention another 6 trillion in deficits....I feel sorry for my kids.

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yathinksoNov. 1, 12 7:36 PM

Shows you what most of you fools don't know. Obamacare will actually increase the need for medical devices due to expanded health insurance coverage. The profits may be slightly less, but the demand will be higher. Companies letting staff go now have other fundamental problems other than concerning themselves with Obamacare.

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pitythefoolsNov. 1, 12 7:42 PM

wedidntknow: "pity, Are you saying that you know more than the CEO's of Medtronic, St. Jude, and Boston Scientific, because they have stated that the Obamacare regulations will do exactly what I stated earlier."

They're CEO's. Do you really expect them to support a tax? You really are gullible.

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