Medical giant Stryker cuts 1,170 jobs, citing ObamaCare

Stryker Corp. heir Jon StrykerAP

Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.







Positions within the company were eliminated altogether after the announcement and have since contracted out many of their current roster of employees to keep costs down, an employee with Stryker, who spoke to under the condition of anonymity, said.

“They really trimmed the fat with the last layoffs in 2009 and the year after which is probably why we are finally on budget for the first time since 1999,” the employee added.

Jon Stryker has been active in politics before the recent election; he contributing millions to help Democratic candidates in his home state of Michigan. He also has given nearly $250 million of his personal wealth to groups supporting gay rights and the conservation of apes, which led to a newly found species being named after him. In 2010, the discovered Myanmar Snub-nosed monkey was named Rhinopithecus strykeri by the research teams that were funded by Stryker’s Arcus Foundation.

The Associated Press contributed to this story.