Stryker plans to lay off 5% of its workforce ahead of the med-tech tax

  
 
 
 
Stryker plans to lay off 5% of its workforce ahead of the med-tech tax
Stryker Corp. announces plans to lay off 5 percent of its workforce, reducing operating cost by more than $100 million before the 2.3 percent med-tech levy takes effect in 2013
Stryker Corp. (NYSE:SYK) officials said the company plans to cut 5 percent of its workforce over concerns about the impending 2.3 percent medical device tax prescribed by President Barack Obama's health care overhaul.
The Kalamazoo, Mich.-based orthopedic device giant expects layoffs and restructuring efforts to reduce costs b...