Stryker on track for 1,000 layoffs ahead of medtech tax

Tue, 11/20/2012 - 11:59am
Mass Device

Stryker is on track for the 5% workforce reduction that the company said it would conduct before the end of this year in anticipation of a $150 million tab for compliance with the medical device tax taking effect January 1.

Stryker logo

Orthopedic giant Stryker is on track with the previously announced layoffs that the company blamed on the 2.3% medical device tax slated to take effect in January.

The layoffs, which Stryker announced around this time last year, are being conducted on a rolling basis and the company expects to free up more than $100 million in costs before next year.


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