Pros
Covidien provided excellent benefits-health insurance, disability, paid time off, generous 401K match and employee stock purchase plan, as its previous iterations of Tyco Healthcare, US SUrgical, Kendall, etc. These benefits made the lower than average salaries palatable and kept workers happy and productive.
Cons
Now, however, Covidien, like all other corporations in America, is sticking it to its employees by raising healthcare costs, slicing away at the once generous 401K match and limiting sick time. With disappearing benefits, low salaries and a management condoned attitude of "Be Happy You Got a Job (For Now)," the hallowed halls of Covidien are echoing with melancholy. The company is laying off people left and right. Not due to the economy, that's just an excuse, but as a cost cutting move to boost short term stock prices. The brain drain from recent layoffs leaves the company ill-prepared to handle the bumpy road of economic doldrums and national healthcare.