Economy Jobs thread:10-25-07 Intel opens new Arizona 45 Nanometer plant, employs 1000

dmcowen674

No Lifer
Oct 13, 1999
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This is a continuation of the previous jobs thread that got too big.
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10-25-07 10-25-07 Intel opens new Arizona 45 Nanometer plant, employs 1000

We need a lot more of this - Nevermind, this cost taxpayers a huge chunk of change for a pitence
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10-24-2007 Bank of America lays off 3,000 from Corporate Banking and Investment Group.

Seems like the bank smells full blown recession to me pulling back like that.
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8-25-2007 Montana and Idaho can't understand why nobody doesn't want to work for $10hr.
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What country would you think this was in?

8-21-2007 Man rides mule 1500 miles looking for work

GILLETTE, Wyo. - He rode his mule into town looking for work.

No, it wasn't the opening scene of a Western movie. It was what Rod Maday did last week, ending a six-week odyssey from his hometown of Boy River, Minn.

"I've done about 1,500 miles and I've got the saddle sores to prove it," he said.

Maday said he lost his driver's license 10 years ago after he was accused in a hit-and-run, and was having a hard time finding work in Minnesota. He heard that Wyoming had plenty of jobs that paid well.

Maday arrived at the Department of Workforce Services office on Friday morning wearing a torn shirt, dusty blue jeans, spurs and a cowboy hat. Astride his brown and silver mule, Henry, he caused several double-takes.

He didn't stay long. He said some teenagers had yelled "uncalled for" things at him while he was riding into town the night before.

"Gillette's nothing like what I had thought," he said.

He left Saturday morning, riding west toward the Bighorn Mountains.
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You know things are gettin bad when giant companies like General Electric and NBC cry poverty:

5-22-2007 'Dateline NBC' dropping Stone Phillips in cost-cutting move

NEW YORK - NBC News is dropping "Dateline NBC" anchor Stone Phillips in a cost-cutting move when his contract expires at the end of June.

NBC News has been restructuring to cut costs. Earlier this spring, it didn't renew the contract of "Nightly News" weekend anchor John Seigenthaler.

NBC News is a division of General Electric Co.

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5-2-2007 I have Google in my backyard

$600 Million data center announced in Pryor Oklahoma today

Very odd since most people in this are not only don't have access to high speed internets but don't even have a computer.

Every person in my neighborhood I have mentioned this to have never heard of Google and have no idea what Google does.

They have heard it will bring jobs.

Hopefully it brings high speed internets too.

5-2-2007 Google to build $600M data center near Pryor

PRYOR, Okla. Internet giant Google says it'll build a 600 (m) million dollar data center on 800 acres at Mid-America Industrial Park in Pryor.

The center will provide support for Google's numerous Internet services and will hire about 100 people in the coming months.

Officials say employment will eventually reach about 200.

Google is planning to convert a warehouse to open next summer and later add a new building on the site.

Google Map of Pryor Oklahoma

I live in upper right corner where it says Grand Lake O the Cherokees

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Topic Title: Economy Jobs:4-6-07 Duke mythbusting study shows hiring of foriegn Engineers all about Corporations saving money
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Jobs numbers continue to be around 2001 levels despite increased population.

For some reason these numbers are considered to be acceptable and being posted as lowest numbers sice the great depression.

The numbers continue to not to add up anywhere near the mass layoffs that have been occuring in the never ending outsourcing to Compnaies sending work overseas.

Poll questions:

Do you believe the jobs numbers?

Do you believe people are being left out of the unemployment numbers?

Do you believe wages have gone up?

===================================================
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.


===================================================
4-9-2007 Strong Jobs, No Jubilation

Friday's gift from the Labor Department of evidence that the economy still had some life in it has, thus far, been met with grumbling by Wall Street.

Despite a closed market, the Labor Department announced that March non-farm payrolls grew by an unexpected 180,000, crushing the consensus estimate for an increase of 168,000. What's more, the unemployment rate dropped from 4.5% to 4.4%, matching October's level, which was also the lowest level in six years. To add to the surprising robustness of the job market, February's payrolls were revised higher by 16,000 and January's payrolls were revised higher by 16,000.

The doom and gloom from analysts isn't limited to getting the hoped-for interest-rate cut from the Fed. Attention has now been turned to first-quarter earnings that will soon begin to wash over the Street, and expectations are extremely low.

On the heels of a stronger than expected employment report that came with revisions higher in previous months, perhaps the consumer is not in such bad shape as many feared on Wall Street. This sets the stage for positive surprises in consumer spending, which hints at negative earnings revisions potentially being too dramatic, since the consumer is the ultimate engine of economic growth.

 

dmcowen674

No Lifer
Oct 13, 1999
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I wonder how many P&N or ATOTr's have been locked up in this crime wave against the poor that they hate:

4-8-2007 Unprovoked beatings of homeless soaring

ORLANDO, Fla. - It was a balmy night, the sort that brings the homeless out from the shelters, when the police were summoned to America Street. On the driveway of a condo, just a few paces from the gutter, lay a man. A dying man.

He looked to be 50-ish, and a resident of Orlando's streets, judging by the moldy jacket. And he'd been bludgeoned ? so badly bludgeoned that he could hardly move.

Before being rushed to the hospital, where he died of his head injuries, the man, August Felix, described his attackers. Young fellows did it, he whispered to the officers who got to him first. Kids.

Within three months, two 16-year-olds and three 15-year-olds had been charged with second-degree homicide in the March 26, 2006, attack.

In its most recent study, "Hate, Violence, and Death on Main Street USA," the coalition documented attacks against the destitute in 62 communities last year alone, in 26 states. Since 1999, such violence has occurred in 44 states and Puerto Rico, and in 200 communities nationwide.

An overwhelming majority of the attackers ? 88 percent ? were 25 or younger; 95 percent were male. No less than 68 percent of those accused and convicted in attacks were between the ages of 13 and 19.

This pattern of violence, in Stoops' view, hasn't gotten the attention it deserves from the public or law enforcement.

"Homeless people are the newest minority group in America that is 'OK' to hate and hurt," he said. "It's as though, somehow, they're viewed as less deserving, less human than the rest of us."

_In Toms River, N.J., five high-school students were charged with beating a 50-year-old homeless man nearly to death with pipes and baseball bats ? throwing hockey pucks at him for good measure ? as he slept in the woods.

_In Butte, Mont., a 53-year-old homeless man was killed at a Greyhound bus depot because he refused to give another man a cigarette, according to court records. The victim's skull was fractured. The 22-year-old assailant received a 50-year prison sentence.

_In Spokane, Wash., a one-legged, 50-year-old homeless man was set on fire in his wheelchair on a downtown street; he died of his burns. Police charged a 22-year-old man with first-degree murder.

_In Nashville, Tenn., a 32-year-old homeless woman sleeping on a boat ramp was shoved into the Cumberland River, according to witnesses. Two men, ages 21 and 22, were charged with homicide in her drowning; authorities say the attack was unprovoked.

Cononie, who also publishes a monthly newspaper, "The Homeless Voice," reported another trend:

"Kids are even starting to videotape themselves hurting homeless people. That's something we never saw before."
 

dmcowen674

No Lifer
Oct 13, 1999
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www.alienbabeltech.com
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.
 

jman19

Lifer
Nov 3, 2000
11,225
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Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.
 

imported_Shivetya

Platinum Member
Jul 7, 2005
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Originally posted by: dmcowen674
I wonder how many P&N or ATOTr's have been locked up in this crime wave against the poor that they hate:

4-8-2007 Unprovoked beatings of homeless soaring

ORLANDO, Fla. - It was a balmy night, the sort that brings the homeless out from the shelters, when the police were summoned to America Street. On the driveway of a condo, just a few paces from the gutter, lay a man. A dying man.

How many of those kids accused of those crimes are students in or from public schools?

when they took the ability to discipline kids out of public school what did they really think would happen when these problem children got out?

 

imported_Shivetya

Platinum Member
Jul 7, 2005
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Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.


and the problem with this is?

Should we prevent US based employers from moving jobs overseas?

If so, how do we compensate them for being forced to waste money?
 

CPA

Elite Member
Nov 19, 2001
30,322
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0
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.
 

jman19

Lifer
Nov 3, 2000
11,225
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126
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
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Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

Worldwide also includes within the US.

Nowhere in the article does it state India - do you have inside sources within CitiGroup?

 

dmcowen674

No Lifer
Oct 13, 1999
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Originally posted by: Shivetya
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.


and the problem with this is?

Should we prevent US based employers from moving jobs overseas?

If so, how do we compensate them for being forced to waste money?

I've stated this many times before:

If what was a U.S. company shifts a majority of it's operations and employees overseas it should lose it's American Corporate Charter and all of the Tax benefits that go with that.

No compensation necessary as it would no longer be an American issue and no longer a drain on American Taxpayers.
 

dmcowen674

No Lifer
Oct 13, 1999
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www.alienbabeltech.com
Originally posted by: EagleKeeper
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

Worldwide also includes within the US.

Nowhere in the article does it state India - do you have inside sources within CitiGroup?

Based on previous articles relating to Bank of America which sent it's workforce to India hence my calling it Bank of India.

I also have a friend that lost his job with a bank that job went to India and it was a much smaller State bank.
 

dmcowen674

No Lifer
Oct 13, 1999
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www.alienbabeltech.com
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.
 

jman19

Lifer
Nov 3, 2000
11,225
664
126
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
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www.alienbabeltech.com
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.
 

jman19

Lifer
Nov 3, 2000
11,225
664
126
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.

Actually it says 43% of job cuts are in the US, meaning the rest is overseas. Well done Dave, well done.
 

Moonbeam

Elite Member
Nov 24, 1999
74,564
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Citigroup has to cut expenses because the largest shareholder, a Saudi Sheik is unhappy with performance.
 

jman19

Lifer
Nov 3, 2000
11,225
664
126
Originally posted by: Moonbeam
Citigroup has to cut expenses because the largest shareholder, a Saudi Sheik is unhappy with performance.

No shareholder would be happy with expense growth outpacing revenue growth.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
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www.alienbabeltech.com
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.

Actually it says 43% of job cuts are in the US, meaning the rest is overseas. Well done Dave, well done.

Druskin said 43 percent of the job cuts and 55 percent of savings will be in the United States, and the rest elsewhere. Citigroup operates in about 100 countries.

"We know where every head is coming from, we know where every dollar is coming from," Druskin said in an interview
===================================================

Bunch of BS. You guys continually go after the messenger and not the message.

An additional 9,500 jobs will move to lower-cost locations worldwide.
 

jman19

Lifer
Nov 3, 2000
11,225
664
126
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.

Actually it says 43% of job cuts are in the US, meaning the rest is overseas. Well done Dave, well done.

Druskin said 43 percent of the job cuts and 55 percent of savings will be in the United States, and the rest elsewhere. Citigroup operates in about 100 countries.

"We know where every head is coming from, we know where every dollar is coming from," Druskin said in an interview
===================================================

Bunch of BS. You guys continually go after the messenger and not the message.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I said international employees were being hit hard, which is evidenced by the fact that 57% of the cuts are going to be international. Instead of debating that point, you whined to me about people being sent overseas.

More diversion from Dave, big shock.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.

Actually it says 43% of job cuts are in the US, meaning the rest is overseas. Well done Dave, well done.

Druskin said 43 percent of the job cuts and 55 percent of savings will be in the United States, and the rest elsewhere. Citigroup operates in about 100 countries.

"We know where every head is coming from, we know where every dollar is coming from," Druskin said in an interview
===================================================

Bunch of BS. You guys continually go after the messenger and not the message.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I said international employees were being hit hard, which is evidenced by the fact that 57% of the cuts are going to be international. Instead of debating that point, you whined to me about people being sent overseas.

More diversion from Dave, big shock.

and more big Corporate apologizing from the resident Republicans, Big Shock. :roll:
 

imported_Shivetya

Platinum Member
Jul 7, 2005
2,978
1
0
Originally posted by: dmcowen674
Originally posted by: Shivetya
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.


and the problem with this is?

Should we prevent US based employers from moving jobs overseas?

If so, how do we compensate them for being forced to waste money?

I've stated this many times before:

If what was a U.S. company shifts a majority of it's operations and employees overseas it should lose it's American Corporate Charter and all of the Tax benefits that go with that.

No compensation necessary as it would no longer be an American issue and no longer a drain on American Taxpayers.


HAHAHA - what tax benefits? That is why many companies have moved their base of operaitons overseas. Whats next, force them too?
 

jman19

Lifer
Nov 3, 2000
11,225
664
126
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: dmcowen674
Originally posted by: jman19
Originally posted by: CPA
Originally posted by: jman19
Originally posted by: dmcowen674
Citigroup becomes CitiIndia, joins Bank of India (America) sending most Office work to India.

4-11-2007 Citigroup slashes 17,000 U.S. jobs, sends 9,500 to India

Citigroup Inc. on Wednesday said it will eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I wouldn't say 9,500 jobs out of 300,000+ is "most." Furthermore, not all of the jobs that are being moved are going to India - for example, some NYC jobs are moving to NJ and upstate NY.

And not all 17,000 are US, Dave. Those are worldwide cuts.

Yep. International employees were hit hard.

You have anything showing that? The article states it is sending 9,500 overseas, doesn't say anything about laying off people overseas.

The bank has a large international presence. Do you think all of the jobs lost are going to be in the US? One only needs to see international performance to know that some jobs will be lost overseas.

Well they focused on American jobs being done away with and 9,500 going overseas to cheaper locations.

It's pretty clear to me.

Actually it says 43% of job cuts are in the US, meaning the rest is overseas. Well done Dave, well done.

Druskin said 43 percent of the job cuts and 55 percent of savings will be in the United States, and the rest elsewhere. Citigroup operates in about 100 countries.

"We know where every head is coming from, we know where every dollar is coming from," Druskin said in an interview
===================================================

Bunch of BS. You guys continually go after the messenger and not the message.

An additional 9,500 jobs will move to lower-cost locations worldwide.

I said international employees were being hit hard, which is evidenced by the fact that 57% of the cuts are going to be international. Instead of debating that point, you whined to me about people being sent overseas.

More diversion from Dave, big shock.

and more big Corporate apologizing from the resident Republicans, Big Shock. :roll:

I'm not a republican. I know, I know, it's hard to attack someone when you can't peg them in to one of your neat little holes. All I did was quote the article and you said I was "attacking the messenger" :laugh:
 

imported_Shivetya

Platinum Member
Jul 7, 2005
2,978
1
0
Originally posted by: dmcowen674
and more big Corporate apologizing from the resident Republicans, Big Shock. :roll:


Edit : In other words, Dave cannot dispute the fact so he resorts to name calling as if that is a suitable reply
 

JD50

Lifer
Sep 4, 2005
11,888
2,788
136
Originally posted by: dmcowen674


and more big Corporate apologizing from the resident Republicans, Big Shock. :roll:


Wait, didn't you just accuse everyone else of attacking the messenger? Oh thats right, you did....

Originally posted by: dmcowen674

Bunch of BS. You guys continually go after the messenger and not the message.

 

ultimatebob

Lifer
Jul 1, 2001
25,134
2,450
126
Are you sure that the "lower cost location" is India?

I've noticed that many financial divisions are outsourcing to Brazil instead. The workers are still cheap, and their working shifts are more closely aligned to their American management teams. The only problem is that it's harder to find employees that speak English well.... Although finding folks in India that speak English well enough for someone in the US to understand is getting more difficult too.