Bear Flag Republic Radio Weblog

Cisco posts health profits. Sadly, contrary to their official CEO statements, the company has layed off U.S. workers and moved their jobs offshore (at end of column). The CEO said no one lost their job but their reports to the Security and Exchange Commission said otherwise...

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Remember how IBM was going to create 15,000 new jobs, worldwide, with 5,000 of them in the U.S.? Are they really creating "new" jobs or merely acquiring existing jobs, as in these 6,000 jobs from Sprint being moved over to IBM? From IBM's perspective, this is probably "job creation". From the economy's perspective, no new jobs have been created. And chances are good that IBM will move many of these jobs to an offshore location.

Sprint claims it will save up to $3 billion by outsourcing the 6,000 jobs. Hmmmm.... $3 billion divided by 6,000 is $500,000 saved per job? Let's assume its a 10 year outsourcing deal. So now they are saving $50,000 per job per year? Some how I do not see the savings unless they outsource highly paid jobs to somewhere in Elbonia (fictitious outsource destination referenced in Dilbert cartoons).

Which gets us back to Cisco - Why do CEOs continue to lie all the time when it is not hard to catch them at it? [Edward Mitchell: Common Sense Technology]

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