25 companies responsible for 700,000 lost jobs
Submitted by Robert Oak on Wed, 08/18/2010
http://www.economicpopulist.org/content/25-companies-responsible-700000-lost-jobs
* Insourcing/Outsourcing * layoffs.labor arbitrage
Daily Finance has compiled a list, from Challenger and Gray
layoff data, of the top 25 companies with the biggest job
losses this recession.
From The Layoff Kings: The 25 Companies Responsible for
700,000 Lost Jobs author Douglas McIntyre, compiled the list
below. I've added whether or not that company is known for
offshore outsourcing jobs. The actual jobs offshore
outsourced is unknown, if some ambitious researcher wishes to
correlate layoffs with jobs created offshore, or offshore
outsourcing contracts written, we'd appreciate the specifics.
From the list we have, these top companies, the number of
layoffs and whether or not they are an offshore outsourcer.
1. General Motors, 107,357, outsourcer
2. Citigroup, 73,056 , outsourcer
3. Hewlett-Packard, 47,540, outsourcer
4. Circuit City Stores, 41,495
5. Merrill Lynch, 40,650, outsourcer (BoA)
6. Verizon Wireless, 39,000, outsourcer
7. Pfizer, 31,771, outsourcer
8. Merck & Co., 24,400, outsourcer
9. Lehman Brothers, 23,340
10. Caterpillar, 23,024, outsourcer
11. JPMorgan Chase, 22,852, outsourcer
12. Starbucks, 21,316
13. AT&T, 18,401, outsourcer
14. Alcoa, 17,655, outsourcer
15. Dow Chemical, 17,530, outsourcer
16. DuPont, 17,000, outsourcer
17. Berkshire Hathaway, 16,900, unknown
18. Ford Motor, 15,912, outsourcer
19. KB Toys, 15,100
20. United States Postal Service, 15,000
21. DHL Express USA, 14,900
22. Sprint Nextel, 14,500, outsourcer
23. Sun Microsystems, 14,000, outsourcer
24. Boeing, 13,715, outsourcer
25. Chrysler, 13,672, outsourcer
As you can see, there are many Tech companies on the list,
when supposedly the recession was about finance and real
estate. Some of these companies have reported record profits,
most are reasonably healthy.
Caterpillar literally demanded U.S. taxpayer dollars, in the
form of Stimulus, all the while firing Americans and offshore
outsourcing jobs.
So, while the blame continues to focus on the housing market
and financial Armageddon, it appears we have the same issues
that were the cause of the 2001 recession, global labor
arbitrage with corporations offshore outsourcing, moving
manufacturing abroad as well as the profits.
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