https://www.edexlive.com/news/2025/Mar/25/ibm-layoffs-aim-is-to-shift-employment-to-india-as-much-as-possible-say-sources
5 replies (most recent on top)
"As Steve Jobs told President Obama"
Steve Jobs, Elon Musk, Obama are just actors. None of them have a useful skillset for society. They are just good at putting on a show to move money or buy votes.
The jobs will come back because eventually those countries will want more and kick out the US to start their own companies, just like what China has done. Forget the fact that it makes the US dependent upon those countries that we outsourced the work to. Maybe that is why we have such a large military so that we can 'encourage' those countries to behave the way we want.
"I would bet a dime to a dollar that everyone of those people lean Republican."
You would be broke. Wall Street and Silicon Valley are democrats. That is why New York, Illinois, and California are deep blue. Just look at the money spent during the last presidential election. The money is not coming from the broke middle class.
https://www.opensecrets.org/2024-presidential-race
Kamala
CANDIDATE COMMITTEE MONEY: $1,151,260,254
OUTSIDE MONEY: $842,989,903
Donald
CANDIDATE COMMITTEE MONEY: $463,662,725
OUTSIDE MONEY: $988,954,718
Probably the most accurate statement would be that wall street donates to both sides so that they can control the outcome of the election which would be analogous to bribing both fighters in a boxing match.
This is the real reason for the hollowing out of America’s middle class: business leaders shifting American jobs overseas in order to reduce costs. It’s been happening for decades.
This increases free cash flow and thus the value of the company and consequently the share price. It also puts executives’ options in the money and voila, everyone is happy: investors, Wall Street and executives. I would bet a dime to a dollar that everyone of those people lean Republican.
You can also thank the likes of McKinsey and the other myriad brains-trust consultants who convinced management that they can profit in the short term i.e. their working lives, and not worry about the long term consequences to the company or the country. After all, it’s all about getting yours NOW.
As Steve Jobs told President Obama, the jobs sent overseas won’t be coming back. Same here: when those IBM jobs go to India, they won’t be coming back either.
But hey, the share price is up. I guess that means everyone is “winning”.
Absolutely repulsive.
Hard to believe that jobs are being moved to India eye roll….Arvind looking forward to even more frequent trips to eat the motherland curry