Smith & Nephew Reduces Workforce (Memphis Daily News)
Smith & Nephew eliminated nearly 100 jobs in Memphis and Andover, Mass., on Thursday, Jan. 31, as the medical device company cuts expenses in an effort to offset tax hikes included in the Affordable Care Act.
The Affordable Care Act includes a 2.3 percent medical device tax, which took effect Jan. 1.
The London-based company, which employs about 1,800 people in Memphis, said the new tax will cost the industry about $30 billion over 10 years.
“(The tax) has impacted a number of companies across the U.S.,” said Joe Metzger, senior vic...
