25 companies responsible for 700,000 lost jobs

Daily Finance has compiled a list, from Challenger and Gray layoff data, of the top 25 companies with the biggest job losses this recession.

From The Layoff Kings: The 25 Companies Responsible for 700,000 Lost Jobs author Douglas McIntyre, compiled the list below. I've added whether or not that company is known for offshore outsourcing jobs. The actual jobs offshore outsourced is unknown, if some ambitious researcher wishes to correlate layoffs with jobs created offshore, or offshore outsourcing contracts written, we'd appreciate the specifics. From the list we have, these top companies, the number of layoffs and whether or not they are an offshore outsourcer.

  1. General Motors, 107,357, outsourcer
  2. Citigroup, 73,056 , outsourcer
  3. Hewlett-Packard, 47,540, outsourcer
  4. Circuit City Stores, 41,495
  5. Merrill Lynch, 40,650, outsourcer (BoA)
  6. Verizon Wireless, 39,000, outsourcer
  7. Pfizer, 31,771, outsourcer
  8. Merck & Co., 24,400, outsourcer
  9. Lehman Brothers, 23,340
  10. Caterpillar, 23,024, outsourcer
  11. JPMorgan Chase, 22,852, outsourcer
  12. Starbucks, 21,316
  13. AT&T, 18,401, outsourcer
  14. Alcoa, 17,655, outsourcer
  15. Dow Chemical, 17,530, outsourcer
  16. DuPont, 17,000, outsourcer
  17. Berkshire Hathaway, 16,900, unknown
  18. Ford Motor, 15,912, outsourcer
  19. KB Toys, 15,100
  20. United States Postal Service, 15,000
  21. DHL Express USA, 14,900
  22. Sprint Nextel, 14,500, outsourcer
  23. Sun Microsystems, 14,000, outsourcer
  24. Boeing, 13,715, outsourcer
  25. Chrysler, 13,672, outsourcer

As you can see, there are many Tech companies on the list, when supposedly the recession was about finance and real estate. Some of these companies have reported record profits, most are reasonably healthy.

Caterpillar literally demanded U.S. taxpayer dollars, in the form of Stimulus, all the while firing Americans and offshore outsourcing jobs.

So, while the blame continues to focus on the housing market and financial Armageddon, it appears we have the same issues that were the cause of the 2001 recession, global labor arbitrage with corporations offshore outsourcing, moving manufacturing abroad as well as the profits.

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vERY TRUE

vERY TRUE

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Outsourcing

It forever amazes me how these clowns can keep up with this abuse. Don't they realize somebody is going to start shooting at them. I'd bet there a tousand people out there, right now, who've got it on their minds.

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USPS

The United States Postal Service has been contracting out work, including mail delivery, particularly in rural areas. A GAO study report is U.S. Postal Service: Data Needed to Assess the Effectiveness of Outsourcing GAO-08-787 http://www.gao.gov/new.items/d08787.pdf found that no efforts were made to ascertain whether it was cheaper or better to use contractors.

This issue has been of high importance to the unions that represent Postal Service workers.

So, the next time you're annoyed with the quality of your mail delivery, the public employee you think mess it up may actually have been a private contract worker.

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Since offshoring seems to be

Since offshoring seems to be so good for everyone, I'm thinking about offshoring all of my consumer needs, too. From now on, I buy exclusively from business who are owned by foreign entities and I buy only products made overseas. How's that? We can all shoot at our own feet!

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Jobs

The mainstream media just hasn't or won't cover this, but this is the main reason jobs aren't coming back. Our economy has been creating lots of jobs, but these big corporations are shipping even more jobs oversees. It amazes me that the big corporations' greed was responsible for the economic collapse, and now the jobs aren't coming back again because of the greed of these big corporations. What is it going to take to get people to open their eyes to reality?

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The money printing out of

The money printing out of thin air stimulus packages gave the multinationals record profits. These multinationals are really something. They expect to receive newly created money out of thin air and tax credits to subsidize their R&D expenses and moving of jobs overseas plus new money to be created out of thin air to bail them out when things go south. Now with corporations and other groups being allowed to contribute unlimited campagin contributions foreign central banks can create an unlimited amount of new money out of thin air to pay lobbyists in the US to lobby for more outsourcing and transfer of technology overseas.

Hayek spoke of the need to denationalize money where competing currencies domestically would be allowed to compete with each other. With money denationalized no one group would have the monopoly power to issue money and have the power to decide which specific sectors should receive credit for investment and development and have the only currency to influence elections.

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