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83 Comments
- aurorous, on 03/26/2009, -2/+28Worst part is these are the "new economy" jobs that are suppose to replace the manufacturing jobs...
So to sum up:
manufacturing jobs for China
Tech jobs for India
empty promises about free trade from Obama, Bush, and Clinton for Americans
Imagine if those three men had worked as hard to create jobs for Americans as they have for the rest of the world? - theviceroy, on 03/26/2009, -2/+27America is running out of American companies...
- xrmb, on 03/26/2009, -1/+24Didn't I recently hear that indians are not so much cheaper anymore? At the end I don't care... I lost my job already.
- PoleCatz, on 03/26/2009, -4/+24America gets the message, IBM. Just move to Bangalore already and get it over with. And one more thing -
DON'T LET THE DOOR HIT YOU IN THE ASS! - Skeptica, on 03/25/2009, -4/+24IBM is changing its name from I've Been Moved to I'll Be Missed. A few more layoffs will switch IBM's headquarter from the U.S. to India. A U.S. engineer costs IBM $80,000, but an Indian engineer only costs $5,000. So, he's not as good, but it's $75,000 savings.
- wilhoitm, on 03/26/2009, -2/+21The horrible thing is that IBM is outsourcing the 5000 jobs lost here in the USA to India. Sun Microsystems please do not let IBM buy you!
- dukeeeey, on 03/26/2009, -2/+17NewsFeed has dugg 50,082 since he joined less than 2 years ago. That means he diggs at least 70 articles a day 7 days a week.
- DirtyVicar, on 03/26/2009, -2/+14Thanks, IBM. Doing your part in the big American layoff.
- haiduz, on 03/26/2009, -4/+16Ahh you guys are so naive, everyone knows that a GIRL on the intrawebs is really a Guy In Real Life.
Anyways, make me a sammich. - MaxxusFlamus, on 03/26/2009, -0/+11The actual figure for an indian IT specialist with IBM is actually closer to $30,000
- cannonball, on 03/26/2009, -4/+15lol, women in the workforce...
- radiofrequency, on 03/26/2009, -0/+10Sad news. I'm not digging for the job cuts, but because just last week Wall Street was pumping Sun Microsystems (JAVA) as a "takeover target" by IBM, an implausible deal on many levels.
- cubicledrone, on 03/26/2009, -0/+9"Imagine if those three men had worked as hard to create jobs for Americans as they have for the rest of the world?"
It would be 1968. People with full time jobs would also have shelter and food (and a car and a college fund, and retirement money and a pension and numerous other benefits) and the economy would be kicking ass.
But it's 2009. People don't have full time jobs because American "employers" can't handle the responsibility of employing professionals at a professional wage, millions are losing their homes and an order of bread sticks with a small drink costs more than the minimum wage. - iizh, on 03/26/2009, -1/+10Wow. Digg is brutal.
- cubicledrone, on 03/26/2009, -1/+10Oh they're hiring. They just aren't hiring Americans.
If you're an American, your credit card number is welcome in American companies. You are not.
Oh, and Microsoft reported $4 billion in profits the quarter they fired all those thousands of people. - Painkilla05, on 03/26/2009, -3/+12My Dad works for IBM. Hopefully he remains there. :C
- lordmike, on 03/26/2009, -1/+10The bane of free trade... why anyone still supports unfettered free trade is beyond me... The U.S. always screws itself with trade deals...
- rezashojaei, on 03/26/2009, -1/+9OK, after all the mess that stupid executives made what else do you expect? It is very simple. in the current economy condition, they can not just sit on their expensive chairs and company shows growth (Growth that was result of growing population and strong business model that founders of company established). Now they actually have to do something.
But there is a tiny problem, They are not as smart as what their bonuses say. they can not invent any thing or establish a new business model.
So what they have to do? Oh.. the old business school book. Cut expenses, increase prices. Companies who can increase price because their products are necessary or shifting is hard for customers, increase prices. Others cut the cost! That means payroll. The people whom the company spent millions on their training during the past years will be laid off. Many small and medium projects will be lost during the process because there is no time or resource for knowledge transfer or the people who were involved are all gone. On the other hand, hundreds of thousands must be spent to train new people!
But at the end of the year, non of these indirect cost are going to show up on the companies balance sheet. What an investor sees is millions of dollars revenue. because some body who used to get $75000 is not in the company and somebody else is suppose to do his job for 5000. Plus the second person is not protected by western contract laws. So, you see.. Every thing works.
However, they are some problems:
in the next 5 - 10 years:
1- With this rate of outsourcing, salaries in that areas are going to increase too. They won't be some starving people who are willing to work for minimum wage 14 hours a day. They life style will go up. They will ask for health care, pension plan and retirement. Their currency will grow (except china ..lol) ..even though their currency doesn't gain dollar will fall anyway. How else US government is going to pay its debt?
2- While during the last 8 years companies moved their production to countries like China and India, they haven't attract any new customers from that areas. They all rely on US and Europe... Very same people they are laying off.
But who cares, these are all future problems which means not CEO problems.
Conclusion Number one: There will be a lots of happy CEO with big bonuses :)
Conclusion Number two: the next 5 to 10 years is going to be very though for every body (except for CEOs). Until life style in countries like China and India improves, and they start to consume, and most importantly Americans Understand that they can not keep their life style by borrowing and get themselves out of depression by spending. - inactive, on 03/26/2009, -5/+12Get back in the kitchen!
- wilhoitm, on 03/26/2009, -2/+8This is going to be the end of Sun's Java and MySQL. IBM has a tendency to destroy any company that they buy!
- bitmanx, on 03/26/2009, -2/+8I'm By Myself
- hdrkid, on 03/26/2009, -0/+6Gotta Cut Costs, said the exec making 100 million per year.
- Phi01, on 03/26/2009, -0/+6I work with engineers from india, i myself am not indian, they are just as good as any engineer out there. But the accents..... i hate it, they need to work on that, they speak perfect english, but that accent i just cant understand. Other than that, fair play to all the engineers in pune.
- inactive, on 03/26/2009, -1/+6*picks up a book in Chinese and Hindi language and buys a one way plane ticket* Soon enough you will too if you want to survive the gradual collapse of America
/s - inactive, on 03/26/2009, -3/+7I could hire you as a full service female. It's not what you think it is, if you know what I mean. $30/hr
- haiduz, on 03/26/2009, -0/+4FYI: IBM is now more focused on IT consulting and ERP implementations so and engineer is not the best position to pick for IBM. Besides middleware, what software that you know is a major revenue source for IBM? They simply dont have much use for engineers. However, many top companies consult with IBM for their ERP (mostly SAP) implementations. However, unlike an engineer, a consultant is harder to outsource since often times you need to be on client site to understand the business.
Anyways, they came to my university campus to interview earlier this year for an entry level consulting job and must have interviewed about 50 senior. Rumor was they only gave out 1 offer, so you can be sure they hire well qualified students. At first I was bummed that I didnt get an offer since I thought I nailed my interviews, but now im not so bummed seeing the cuts in staffing they are making. - Jovian84, on 03/26/2009, -0/+3on a side note IBM did allot of buisness with the third reich druing the war, after which they were collect payment.
- inactive, on 03/26/2009, -2/+5I'm not just talking about this IBM incident. I am talking about the global situation as a whole.
This isn't simply a bear market. It's the end of the merchants' control of the West. Economic principles were not always the complete center of man's existence. It was not until the Renaissance period that the merchant class within European kingdoms became so powerful, as power-hungry kings started to elevate merchants to places of prominence to offset the power of competing nobles (kings used to share power with other nobles). With the merchants at the reigns of kingdoms, it wasn't long before the merchant mentality completely dominated European life, thus spawning mercantilism and ultimately capitalism. This domination, however, is on its way out now. Civilizations rooted in money and markets are doomed to fail by their own nature.
We have focused too much on money and markets, and have strayed far off from morals, principles, and values. The fundamentals of life and humanity have been put off for profits and finance capitalism. If a society focuses on those fundamentals, economic prosperity will come naturally. - nkassi, on 03/26/2009, -3/+6Well at least the world economy doesn't loose a total of 5000 jobs. With sun, those jobs would be gone cause it's going out of business.
- MaxxusFlamus, on 03/26/2009, -1/+4How the hell is this the end of Capitalism?
Doesn't Capitalism mean that this will inevitably happen?
Unless you're trolling. In that case, continue on. - texas85, on 03/26/2009, -2/+5***** IBM!
- Goph09, on 03/26/2009, -0/+3You did. Same with China. Companies are outsourcing less and less and keeping jobs in America. One such company is IBM, however the reason they're still moving jobs is because they're a global organization, not just a US organization. It's easier to build products and service compnaies in other countries if IBM has locations in those countries as well. There's many business factors that go into the reasoning behind this but one reason is culture differences. between that and cutting costs to deliver products to other countries other than the US, it's perfectly fine to move jobs overseas. It makes companies more efficient and better able to serve the customer.
- LonesomeFighter, on 03/26/2009, -0/+3*****. but you recently changed your location in your profile so whatever
- Bloodweaver, on 03/26/2009, -0/+3Wake up already. They are all multinational companies. There is no allegiance to anything except money.
- neumadr, on 03/26/2009, -0/+3the rust belt? the steel industry died because of parasitic unions and american steel couldn't compete globally on those terms.
if you're suggesting 'free trade' destroyed the steel industry, you're suggesting that americans shouldn't have freedom to purchase cheaper goods, businesses shouldn't have the incentive to product cheaper goods, competition should shrink, etc.
whether you like it or not, it's 2009 and globalization is rapid. you can't just wall yourself in to Salem city and depend on the local baker. - TrentDeux, on 03/26/2009, -0/+3Makes one want to strongly consider the actions of the US congress and consider how business friendly they are. Vindictively tax specific individuals? Remove secret ballet requirement for unions? Talk of nationalizing more and more industries? Spending so much that higher taxation is inevitable.
Not surprised companies are shifting offshore. - jayzeus, on 03/26/2009, -0/+2LOL, No we're not!
I'm actually here, looking for a job in IT, and haven't had much luck so far. It's not as BAD as in the US, but it's not "fine" either. - theviceroy, on 03/26/2009, -1/+3cheaply made toxic products and a shrinking middle class are not good things.
- Goph09, on 03/26/2009, -0/+2To everyone who says ***** IBM: I bet you use an IBM product every single day of your life to make life easier.
Matter of fact, i know you all do without a doubt..they invented the UPC code (first UPS was put on a 10 pack of juicy fruit) - Jovian84, on 03/26/2009, -0/+2they even made the punch cards used for processing the holocaust.
- spiffza, on 03/26/2009, -2/+4And how do you justify the statement that the Indian engineer is not as good ?
- sensia3, on 03/26/2009, -0/+2It's already way up. American companies basically destruct the social balance by making a section of society super rich compared to a big chunk of population who has nothing to do with IBM. Companies like IBM are a shame to the society- they blow up benefits of outsourcing because they care about short term benefits. And this ***** is happenig because workers in US is grossly ununionized.
Oh, that "coast" is gotta be cost. - cannonball, on 03/26/2009, -2/+3Did they purchase Sun Microsystems? Companies that merge usually let go a lot of people.
Or it could be the crappy economy. Or both. - scarlettletter, on 03/25/2009, -7/+8How sad... I'm trying to get a job but it really isn't looking good.
- lordmike, on 03/26/2009, -2/+3"You're ignoring all the good things it has done for the US. That's like saying the polio vaccine killed 5 people and therefore it's bad."
All the good things? Name one! I live in the rust belt... you wouldn't be caught dead saying that here... Free trade completely and utterly destroyed the midwest. I know it made bankers very rich, but they turned that around and ruined our economy....
There are no benefits to unfettered free trade... none! The other countries get all the bennies, we get none! - TrentDeux, on 03/26/2009, -1/+2Yeah trust me some guy sitting in a cube in Bangalore can not sell a consulting engagement to a US company. In person contact and the ability to speak English still matter, ask any salesperson.
- MisterEThoughts, on 03/26/2009, -1/+2Just wait 10 years after India's coast of living goes up!
- jeffiek, on 03/27/2009, -0/+1They're just as good (or bad) as any other engineer.
However, they're thousands of miles away, in a different time zone, and from a different culture. Communication problems can easily add a large overhead.
note: to be clear, the comment about culture was made because culture affects communication. Different cultures express goals, needs, and progress differently. Neither good nor bad, just different. -
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