Boston Scientific to lay off 1,200-plus
Boston Scientific Corp. said yesterday that it plans to eliminate 1,200 to 1,400 jobs worldwide during the next 2 ½ years to free money for new investments, the Natick medical device maker’s second major round of cuts since last year.Ah, yes, that economy's just humming along, isn't it? They keep trying to deflect, using the same "jobless recovery" they derided Bush for back in the 2000s. Interesting, isn't it, that now the shaman in the Oval Office has a (D) next to his name, that same "jobless recovery isn't such a bad thing... Boston Scientific took tax break incentives to stay in MA, and then folded shop anyways, looking to overseas markets to shave costs.The company would not say how many jobs will be lost in Massachusetts, where fewer than 2,000 of its 25,000 employees are based. In February 2010, Boston Scientific said it would pare 1,300 jobs worldwide, but similarly did not say where.
It's not a MA thing, exclusively; one can assume that Boston Scientific would have folded shop in favor of cheap Chinese labor whether they were in tax-heavy MA or tax-friendly NH. What's interesting to note, though, is that even in light of the favorable tax breaks received for staying in MA, they're finding it more appealing to close shop and move operations to China. Cheap labor is one thing; it's a little disheartening to think that they're not concerned about the oppressive government in red China - then again, MA has prepared them well...
And it's more than a little frightening that a company that is doing well is cutting jobs and moving operations overseas - it does not bode well for the state of the state...
That is all.
5 comments:
Well, one can't have a TRUE VolksRepublik unless the last Vestiges of Capitalist Exploitation is eradicated, now can we? After all, only the Government can properly take care of the Needs of the Masses, correct? So every addition to the Unemployment Rolls just hastens the day when the last chains shackling the Workers of the World have been Severed, and the New Soviet Man/Woman/Transgender will arise!
BTW, it looks like your Favorite RINO Senator from Massachusetts, Scottie Brown, will vote with Reid and the rest of the Demacommies against the House Bill.
This just in--economists are still puzzled at last quarter's lackluster performance...
I'm getting closer and closer to destroying 10 MA jobs myself.
I was up in Keene NH last week seeing what it might be like to move my firms up there.
MA gov does everything in its power to destroy entrepreneurism here.
Sad, but not unusual... Tax breaks are NOT the panacea everyone thinks...
It's not the taxes so much as it is the mountains of regulations.
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