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Old 11-05-2008, 06:56 AM
 
371 posts, read 1,420,385 times
Reputation: 184

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Yeap-it is in the works....10,000 finance jobs going to India before the new year.....this has to stop...guess they want to do it before Obama is in office. I am so angry-when is this all going to stop? What can we do as a country to make this stop?? Help me out here people-this affects me personally so that is why I am so mad right now! No one is loyal to Americans anymore! This is a disgrace since American workers is what helped make IBM the giant it is today. I hope their stocks fall when this comes out, maybe then they will get it. While the execs make millions in bonuses, everyone else gets the boot.
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Old 11-05-2008, 07:04 AM
 
Location: USA
4,980 posts, read 8,434,659 times
Reputation: 2506
Default Money

Quote:
Originally Posted by MomOfToo View Post
Yeap-it is in the works....10,000 finance jobs going to India before the new year.....this has to stop...guess they want to do it before Obama is in office. I am so angry-when is this all going to stop? What can we do as a country to make this stop?? Help me out here people-this affects me personally so that is why I am so mad right now! No one is loyal to Americans anymore! This is a disgrace since American workers is what helped make IBM the giant it is today. I hope their stocks fall when this comes out, maybe then they will get it. While the execs make millions in bonuses, everyone else gets the boot.

This has been going on for decades. One Indian businessman told me that a lot of our government work gets contracted down and leaves the country too.
IBM, like most companies, isn't "loyal", but driven by money. They feel no need to employ the communities that helped build them or buy their products. But what will come around is, Americans won't be able to buy their products, maybe big companies but not individuals.
I've seen this time and time again, and when a company lets go thousands of workers into the economy, where do they find comparable jobs, or even livable wage jobs?

Our politicians have turned a deaf ear to this for decades. Now, suddenly "Oh, the economy is bad off" from both parties. The Midwest knew it for decades and was struggling while they dealth with helping the Iraqis on their feet.

It's all about money.
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Old 11-05-2008, 08:15 AM
 
4,084 posts, read 7,779,505 times
Reputation: 5679
IBM has been doing this for sometimes now, but I am not aware of this recent plan. Is there a link? As I have stated so many times, job outsourcing has far-reaching, long-term consequences. You can talk about health care, housing, education, etc. all you want, but without jobs none of these things matters.

Report: IBM plans offshore outsourcing - Jan. 19, 2004
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Old 11-05-2008, 10:57 AM
 
371 posts, read 1,420,385 times
Reputation: 184
I know they have been doing this for years but it has to stop...why pay and send our kids to college if there isn't any jobs for them? There isn't a link yet-its inside news...
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Old 11-05-2008, 11:10 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
Reputation: 23636
I had the pleasure of having a worker from India sit in my cube and shadow me for 8 months, then I got axed 6 wks shy of retirement, but after 32 yrs of service. (no pension, no healthcare... NOT IBM, but a direct competitor) ain't pretty, but happens a lot...
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Old 11-05-2008, 11:10 AM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
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I have noticed that IBM no longer states the number of US employees anymore in their reports.
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Old 11-05-2008, 11:15 AM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
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Keep an eye on IBM's $34 billion in debit. - Nov. 5, 2008
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Old 11-05-2008, 11:15 AM
 
Location: Denver
9,224 posts, read 15,931,760 times
Reputation: 5487
I work with IBM a lot, and have consulted with them in the past.

These companies have been taught to be a global free enterprise, make profits for the US stock holders, not give Americans jobs. They could care less about Americans, outside of the shareholders.

The times have truly changed, it is every person for themselves now, no company is a safe company including Government Jobs...Lockheed and Boeing are outsourcing software, customer service and finance jobs as well.

We can't really blame IBM all the time, India and China have some very qualified candidates and a lower pay scale, they actually study mathematics and engineering proudly. But sending finance jobs overseas? That is greed and shareholder wealth.
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Old 11-05-2008, 11:31 AM
 
Location: Waterford & Sterling Heights, Michigan
340 posts, read 847,082 times
Reputation: 338
This has been going on for decades in other industries. Look how the industrial midwest got decimated. This country is moving away from a manufacturing base toward a service based economy. But those finance and insurance jobs are also been outsourced. What going to be left? I don't know. Who is going to by the cars and the real estate?
It is a big mess.
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Old 11-05-2008, 11:37 AM
 
Location: Denver
9,224 posts, read 15,931,760 times
Reputation: 5487
Quote:
Originally Posted by MIEng View Post
This has been going on for decades in other industries. Look how the industrial midwest got decimated. This country is moving away from a manufacturing base toward a service based economy. But those finance and insurance jobs are also been outsourced. What going to be left? I don't know. Who is going to by the cars and the real estate?
It is a big mess.
Rich Shareholders?

When a US Corporations primary goal is to maximize shareholder wealth under law, we are going to see companies move jobs to cheaper countries, especially when those other countries have equal or higher caliber canidates.

The only way to combat this is to provide incentives to keep those jobs here, penalize them for going overseas OR provide better candidates.
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