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Friday, November 11, 2011

Stryker to Cut 1,000 Employees in Face of Obamacare Taxes

As expected, Obamacare fees are starting to translate into job losses at medical companies to offset new taxes.

Stryker, the Kalamazoo-based maker of artificial hips and knees, will cut 5% of its global workforce by the end of next year to reduce costs in the face of new fees on device makers required by the U.S. health care law.

Damn the torpedoes, full speed ahead.