Layoffs: Medical device companies cut 2,000 jobs in 2 months

September 14, 2012 by MassDevice staff

Cost-cutting moves by medical device companies have resulted in the loss of more than 2,000 jobs over the past 2 months.

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Medical device companies are molting at a reptilian rate, shedding more than 2,000 jobs over the past 2 months as they look to slash costs across the board.

Several of the med-tech companies that are scrapping jobs say the 2.3% medical device excise tax in the Patient Protection and Affordable Care Act, slated to begin in January 2013. Others deny that the tax is the sole cause of their moves, saying it's a factor but not determinative.

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Seven medical device companies have announced restructuring plans involving layoffs since July 13: