Layoffs Hit Medtech Hard in January 2016

job_cutsLayoffs in the medtech industry have been cited as one of the reasons behind the push to repeal the medical device tax.

A 2013 AdvaMed report estimated that, at that time, the tax had already resulted in losses of 33,000 jobs, which entailed 14,000 layoffs and another 19,000 jobs that were lost as a result of “forgone hiring.” The tax went into effect on January 1 of that same year.

Whatever role the device has played in the significant layoffs in the industry in recent years, the latest wave of layoffs is perhaps evidence that a repeal of the device tax in itself is not enough to stave them off. It is, of course, too early to make any definitive judgments on the matter, and it is worth noting, too, that the bulk of the layoffs came from Johnson & Johnson, a company that has been in the process of restructuring its medical device business over the years.

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About Peter Coffaro 1149 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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