Zimmer (ZMH) Axes Jobs to Cut Costs Ahead of Med-tech Tax
3/13/2012 9:00:35 AM
Zimmer plans cuts and outsourcing at its Warsaw, Ind., headquarters partially to offset the impending burden of a 2.3% medical device tax. Zimmer Holdings (NYSE:ZMH) announced layoffs at its Warsaw, Ind., headquarters, pointing to the expected burden of the medical device tax as partly responsible for some of the losses. The orthopedics device maker plans to offset the entire burden posed by the impending 2.3% device levy in 2013 through cost-cutting efforts, part of which include layoffs.