EDS is whacking its U.S. workforce again...Though, I wonder if EDS management ever stops axing its American workforce? (Answer: "Don't think so")
Look at the numbers below. Another 12,000 American middle class jobs are set to be permanently eliminated by EDS alone this year. This is on top of 5,000 American jobs cut in '03 and 20,000 cut in '04! Working with just these figures alone, that's 37,000 middle and upper middle income jobs permanently GONE in America!!!
I wonder if all the people who thought free trade would be a "win-win" feel "punked"? (Of course, I mean those people not in upper corporate management, working on Wall Street, insulated in political jobs or enjoying the fat rewards of high corporate dividends 'cuz the the company ditched it's "expensive" American workers and moved ops offshore...)Remember, how our "leaders" told us back in the '90s that it's ok if the "dirty" factory jobs go to places like China and Mexico?? Americans, said the assorted business and political "leaders, will have cool "information age" jobs? That's what Bill Clinton and Newt Gingrich said around the time they rammed NAFTA through the Congress back in the early '90s...
Well, it sure worked out "different" didn't it? (Isn't it ironic that Hillary Clinton and ex-prez Bill are still claiming that free trade is "good" and we just need to better "compete" to keep jobs?? Well, that is called the "Race to the Bottom".
If we're gonna go that route -- cutting our incomes to keep the jobs from going to places like India -- I want Hillary Clinton to take a 25% per year cut in salary -- you know, so she is like competing with Indian politicians to keep her job. Seems fair to me. After all, Hillary wouldn't ask American workers to make any sacrifices she herself isn't willing to make, right Maybe it's time for all of us to start thinking "different" and voting "different" -- you know vote for people "different" from the ones who support "free trade" and letting corporations "offshore outsource" all the middle class American jobs they want.
EDS Offers 11% of Work Force Early Retirement
[Note: That 11% figure refers only to the EDS American workers]
The outsourcing giant has been cutting jobs in the U.S. while hiring workers in lower-cost countries.
September 12, 2007
At an estimated cost of between $70 million to $130 million, outsourcing giant EDS said in a Sept. 12 Securities and Exchange Commission filing that it will offer early retirement packages to about 12,000 U.S. employees in the fourth quarter, or more than 11 percent of its 136,000 worldwide work force.After receiving board authorization Sept. 6, the company announced the offer to its staff on Sept. 11. Employees have until Oct. 30 to accept or reject the offer.
Workers who opt for the early retirement will receive an additional $10,000 from the retirement plan, as well as extra credits to their retirement account, according to the filing.
This benefit is equal to five times the allotted annual funds made to their company retirement plan.
Officials were unable to nail down the exact price it would run them until they knew how many employees would accept the offer.
Second in revenue to only IBM among United States technology services companies, EDS, based in Plano, Texas, has cut costs over the last several years. The cuts have included the elimination of 5,000 jobs in 2003 and 20,000 in 2004.
Its current CEO, Ronald Rittenmeyer, took over on Sept. 1 and is said to be hiring workers in India to revive profit by replacing more-expensive U.S. employees. Rittenmeyer said he would be bringing its work force in low-cost countries, including India, Brazil and the Czech Republic, from 38,000 to 45,000 by the end of 2008.
EDS also offered 9,200 workers early retirement in 2004, an offer accepted by 1,500.
Labels: Bangalore, corporate greed, fair trade, free trade, India, Information Technology, offshore outsourcing, offshoring