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JPMorgan cutting up to 14,000.
13-15K jobs in their mortgage unit
3-4K jobs in community banking
HP cutting 30,000 jobs.
Includes significant cuts in Europe
IBM moving manufacturing from Minn. to Mexico (job loss numbers in the hundreds).
Production jobs
Mass layoffs are at a 3 year high since November 2012 when 174,000 workers received pink slips that month.
The Fox link cites BLS data; they did not "make up" the story as so many would like to believe.
Corporations are governed to the stock price. All are focusing on operational effieciencies to reduce costs.
What government interference should be done to reduce corporate productivity and increase employment?
Should U.S. Government expect large companies to provide lifetime employment as is the situation in Japan?
Should U.S. Government tax corporations who lay off workers as is done in many European nations?
Should U.S. Government mandate an earlier retirement as is done in some European nations?
Should U.Sl. Government mandate a shorter work day and greater vacation time to force the employment of more people, as is done in some European nations?
Should U.S., Government close trade borders?
Should the U.S. seek to tax incomes greater than $1.28 million at 75% as France attempted to do?
Are U.S. people willing to accept the costs of substantially reduced productivity, including quality of life issues?
No, better to let the Bernie Madoffs, Jamie Dimons and Mitt Romneys of America make billions on the backs of hard working American workers and go on $100,000 child-sex tours in Thailand and engage in every other abomination they want behind closed doors.
I must have missed this. Madoff, Dimon and Romney go on $100,000 child sex tours in Thailand?
Either corporations will pay decent, liveable wages and hire the right amount of people (currently 2people are doing the work of what was 4) - OR they will have to find someone else to purchase their product. Perhaps someone overseas where they continue to ship their jobs. No one here will be able to purchase anything.
Certainly, they can do what they want - as their current practices continue to run this country into the ground. Now how is that good for their business long term?
And much of this increased productivity is a result of technology.
Should the government have outlawed tractors because the equipment was more productive than humans?
My first full time job was with a company that employed 500 people who moved and counted stock certificates. All these jobs were eventuallly eliminated when it was more productive to have computers do the tracking and bookentry movements than people.
Back then, lunch time on Pay Day Friday was a nightmare. Dozens of teller windows were staffed and supported by people at all the banks. A typical wait would be 30-45 minutes. Direct Deposit and ATMs replaced the infrastructures that used to be necessary to support consumer banking.
And since I am dating myself here, what became of the IBM Selectric and the masses of admin folk needed to type and reproduce documents?
They are also CUTTING jobs while grabbing more $$$ for themselves. Corporate hacks are a bunch of hypocrites. And they can't understand why the last election didn't go their way.
The shareholders of publicly traded corporations elect their boards of directors to govern the company to the stock price. The board negoiates the employment contracts and competitive compensation of senior officers. The seniors officers are expected to increase productivity, market share and reduce costs. If they don't the board will find someone else who will.
There is a problem with lack of demand due to American consumers being over leveraged while corporations have done a good job of cutting costs and improving efficiency. The problem is the only jobs they add are over seas.
Yeah. Because they just NOW started cutting back and shipping crap overseas.
Why the need to build in the cost of shipping when the same product can be produced where it's sold?
Who complained 30 years ago when Honda made the decision to build cars in the U.S. for the U.S. market.
Who knew then that it's likely within the next few years that Honda will export more cars from the U.S. than it does from Japan?
It doesn't take "record" high taxes to send jobs overseas faster. It only takes a growing incentive to not higher or move operations overseas to force Americans into submission. And there's nothing you can do about it if you continue to refuse to see how your actions exacerbate the problem.
Record high taxes compared to what/when?
While the rack rate of corporate tax is higher in the U.S. than many places, the effective rate makes it competitive.
Want to increase employment in the U.S.?
-Eliminate minimum wage and all benefits.
- Eliminate all safety, health, EPA and employment laws. Whomever is willing to work for the least amount will get hired.
-Increase income taxes to provide a semblance of a social net or heck, eliminate the social net and allow the dog eat dog survive.
- Adopt a model similar to South Africa. Those with money can live behind 15 ' walls and hire private security forces to protect them- maybe.
-Refuse to be policed and resort to mob rule, with guns.
-Substantially reduce the standard of living of most folk.
-Legalize all drugs and allow employers to turn the masses into drug slaves willing to sell their souls for the next hit.
between 1973 and 2011, the median income for full-time working males decreased from $50,622 to $48,202, while corporate profits have soared. You don't see a problem with that?
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