1200 more JOBS GONE OUT THE WINDOW--THANKS TO OBAMACARE
Posted in the Carrollton Forum
#1 Jul 30, 2011
Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 ˝ years to free money for new investments, the Natick medical device maker’s second major round of cuts since last year.
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.
Boston Scientific officials said the latest job cuts, which will involve layoffs and leaving open positions vacant, are part of a broader effort to save between $225 million and $275 million annually. That will enable the company to invest in new products and geographic markets as growth flattens in the United States and other Western countries.
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