A corporation whose part owner gave $2 million to a group committed to re-electing President Obama announced this week that it will be forced to lay off more than 1,000 employees in lieu of the financial hardship imposed by the president's signature health care law, WORLD News Service reports. Stryker Corporation, a medical device and equipment manufacturer, will cut 5 percent of its global workforce, resulting in an estimated 1,170 layoffs. Obamacare requires businesses to provide government-defined health care plans to employees who work 30 or more hours each week, with those failing to do so facing fines of up to $3,000 per employee. Obamacare also includes 18 new taxes and penalties that are estimated to bring $836 billion to the federal government over the next 10 years, according to Alyene Senger of The Heritage Foundation. "As businesses are affected by these taxes they are going to either -- as you see with Stryker -- lay people off, or they are going to turn full-time workers into part-time workers so that they don't have to pay the employer mandate," Senger said. More than a dozen companies are also facing layoffs or the possibility of having to reduce employees' hours to help combat the effects of Obamacare, according to the governmental watchdog group Freedom Works.