Are St. Jude’s Layoffs Related to the Medical Device Tax?

September 4, 2012
St. Jude Medical’s coming overhaul and massive layoffs were attributable partly to the 2.3 percent medical device tax taking effect Jan. 1. The medical device giant announced last week that it terminated 300 employees, effective immediately, and that the company was undertaking a massive overhaul to structure its businesses from 4 divisions into 2.
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