15 September, 2010
According to Economic Populist and based on reliable data from a company that monitors layoffs, 25 American-based companies were responsible for 700,000 jobs lost during the financial crisis. And the statistics reveal that most of the lost US jobs were caused by outsourcing jobs offshore.
The list of 25 includes a few industrial companies, but the most consisting of tech companies, service-oriented forms, and, of course, financial services.
The 25 are: General Motors, 107,357 jobs lost due to outsourcing; Citigroup, 73,056 jobs gone; Hewlett-Packard, 47,540 jobs eliminated due to outsourcing; Circuit City Stores, 41,495 (not attributed to outsourcing); Bank of America/Merrill Lynch, 40,650; Verizon Wireless, 39,000; Pfizer, 31,771; Merck and Co., 24,400.
Lehman Brothers, 23,340; Caterpillar, 23,024; JP Morgan Chase, 22,852; Starbucks, 21,316; AT&T, 18,401; Alcoa Aluminium, 17,655 jobs lost to outsourcing; Dow Chemical, 17,530; Dupont, 17,000; Berkshire Hathaway Capital, 16,900 jobs lost due to unknown reasons;
Ford Motor, 15,912; KB Toys, 15,100; US Postal Service, 15,000; DHL Express USA, 14,900; Sprint Nextel, 14,500; Sun Microsystems, 14,000; Boeing Aviation, 13,715; and Chrysler, 13,672.
Many of these companies demanded US taxpayers’ dollars in the form of stimulus monies, all the while they were loping jobs.