And, in the last six months, 1,200 offices and plants applied for federal Trade Adjustment Assistance, which means they shipped jobs out of the country. That figure is 20 percent higher than the prior six months.
Employment at foreign subsidiaries of U.S. corporations grew by 729,000 in last two years, U.S. employees at those same firms dropped by 500,000.
Just this year:
Hilton hotels shipped its reservation center to the Phillipines
JPMorgan Chase shipped its telephone banking center to the Phillipines
Hewlett Packard laid off workers in 10 states and shipped their jobs to Panama
PwC (old Price Waterhouse Coopers) has shipped some of its client account service functions to Uruguay
Last week, the Senate killed a bill which would have eliminated a slew of tax breaks for companies that ship jobs overseas.
But let’s all set private markets free, unencumbered by govt interference ‘cause we all know how much they care about the little people.
You are missing the point behind business exporting of jobs. ObamaCare will cost each and every company literally thousands of dollars for every single new job they create. That is thousands of dollars. Why should they incur that expense because they should be altruistic?
What is their tax rate going to be next year? You don’t know? Neither do they and why spend in the face of uncertainty?
What are the new regulations they will face on each employee? well, you are getting the point. Put yourself in their shoes.
Uncertainty, regulations and expense. Three killers of jobs.
Dtroutma over 13 years ago
It’s more like a super tanker being threatened by a guppy.
Odon Premium Member over 13 years ago
Much improved profits but don’t tax us as we won’t be able to buy back as much of our own stock.
believecommonsense over 13 years ago
ODon, right you are!
And, in the last six months, 1,200 offices and plants applied for federal Trade Adjustment Assistance, which means they shipped jobs out of the country. That figure is 20 percent higher than the prior six months.
Employment at foreign subsidiaries of U.S. corporations grew by 729,000 in last two years, U.S. employees at those same firms dropped by 500,000.
Just this year:
Hilton hotels shipped its reservation center to the Phillipines
JPMorgan Chase shipped its telephone banking center to the Phillipines
Hewlett Packard laid off workers in 10 states and shipped their jobs to Panama
PwC (old Price Waterhouse Coopers) has shipped some of its client account service functions to Uruguay
Last week, the Senate killed a bill which would have eliminated a slew of tax breaks for companies that ship jobs overseas.
But let’s all set private markets free, unencumbered by govt interference ‘cause we all know how much they care about the little people.
Libertarian1 over 13 years ago
BCS Again welcome back.
You are missing the point behind business exporting of jobs. ObamaCare will cost each and every company literally thousands of dollars for every single new job they create. That is thousands of dollars. Why should they incur that expense because they should be altruistic?
What is their tax rate going to be next year? You don’t know? Neither do they and why spend in the face of uncertainty?
What are the new regulations they will face on each employee? well, you are getting the point. Put yourself in their shoes.
Uncertainty, regulations and expense. Three killers of jobs.
believecommonsense over 13 years ago
^ your response leaves me speechless, it’s so absent of factual context!
What’s next, blaming Obamacare for the Gulf oil spill and economic meltdown?
vhammon over 13 years ago
Libertarian1, Are you suggesting that the exporting of jobs is a new phenomenon, due to recent laws or the possibility of laws, as yet unpassed?