{"id":32761,"date":"2012-11-09T15:11:56","date_gmt":"2012-11-09T19:11:56","guid":{"rendered":"http:\/\/valorguardians.com\/blog\/?p=32761"},"modified":"2012-11-09T15:44:58","modified_gmt":"2012-11-09T19:44:58","slug":"and-in-the-obamacare-fallout-department","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=32761","title":{"rendered":"And In the \u201cObamaCare\u201d Fallout Department . . ."},"content":{"rendered":"<p>. . . well, it looks like<a href=\"http:\/\/www.freedomworks.org\/blog\/grusbf5\/good-morning-america-heres-those-layoffs-you-voted\"> it&#8217;s already started<\/a>.\u00a0 Here they are &#8211; job cuts announced or planned to date by businesses specifically due to AHCA mandates.\u00a0 Numbers are full-time positions to be cut:<\/p>\n<ul>\n<li>Welch Allyn \u2013 275 (approx 10% of their workforce)<\/li>\n<li>Dana Holding Corp \u2013 estimated to be approx $24 million over 6 years, or $4M per year (no firm number given besides the 6 or so in management who\u2019ve gotten the ax so far)<\/li>\n<li>Stryker\u00a0 &#8211; 5% of global workforce (aprox 1,170)<\/li>\n<li>Boston Scientific \u2013 between 1,200 and 1,400 US jobs (investment focus and hiring will shift to China)<\/li>\n<li>Medtronic \u2013 1,000<\/li>\n<li>Smith &amp; Nephew &#8211; 770<\/li>\n<li>Abbott Labs &#8211; 700<\/li>\n<li>Covidien \u2013 595<\/li>\n<li>Kinetic Concepts \u2013 427<\/li>\n<li>St. Jude Medical &#8211; 300<\/li>\n<li>Hill Rom &#8211; 200<\/li>\n<\/ul>\n<p>That\u2019s over 6,700 full-time jobs getting the axe so far \u2013 plus however many jobs $24 million in payroll equates to at Dana Holding.\u00a0 Assuming an average salary of $90k and allowing +1\/3 for benefits, that comes to another 200.<\/p>\n<p>Above and beyond those reductions, many other companies are actively looking for ways to reduce current or future workers\u2019 hours.\u00a0 Seems as if the AHCA penalty calculation formula doesn\u2019t count part-time workers &#8211; so replacing a full-time worker with two part-timers is now <span style=\"text-decoration: underline;\">really<\/span> a net plus for the company.\u00a0 Companies that are looking at doing exactly this (e.g., reducing many workers to 28 hours weekly or less) include the following:<\/p>\n<ul>\n<li>Darden Restaurants (Red Lobster\/Olive Garden\/Longhorn)<\/li>\n<li>JANCOA Janitorial Services<\/li>\n<li>Kroger<\/li>\n<\/ul>\n<p>The reductions identified above are, of course, only the beginning.\u00a0 So if you\u2019re hoping to find a full-time job some time in the foreseeable future \u2013 well, your search likely just got a whole lot harder.<\/p>\n<p>Each of these reductions will also have a ripple effect due to forced reductions in spending by those who lose jobs or who saw their hours reduced.\u00a0 The overall net effect will be to reduce business activity overall \u2013 leading to more cutbacks and layoffs in other industries affected by that reduced spending.<\/p>\n<p>And this doesn\u2019t include pending cuts due to sequestration, targeted Federal budget cuts, and the like.<\/p>\n<p>Yeah, looks \u00a0it looks like we\u2019re in for <span style=\"text-decoration: underline;\">really<\/span> good times.\u00a0 <em>Laissez les bon temps rouler<\/em>!<\/p>\n<p>(For the perception-challenged, yes &#8211; the last two sentences were indeed sarcasm.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>. . . well, it looks like it&#8217;s already started.\u00a0 Here they are &#8211; job cuts &hellip; <a title=\"And In the \u201cObamaCare\u201d Fallout Department . . .\" class=\"hm-read-more\" href=\"https:\/\/www.azuse.cloud\/?p=32761\"><span class=\"screen-reader-text\">And In the \u201cObamaCare\u201d Fallout Department . . .<\/span>Read more<\/a><\/p>\n","protected":false},"author":623,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,11],"tags":[],"class_list":["post-32761","post","type-post","status-publish","format-standard","hentry","category-dumbass-bullshit","category-economy"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/32761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/623"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32761"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/32761\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}