Word: lower-cost
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...scare off potential corporate clients. "It could really hurt us," says Jousset. "Over the long term, such protectionist steps never work. But over the next five years it could slow the development." More than two years after the U.S. began worrying about the export of American jobs to lower-cost countries, Europe has finally woken up to the "offshoring" threat. European companies have been moving some manufacturing facilities abroad for a decade to capitalize on lower wages and to gain access to new markets. But now many firms are asking if they can and should do the same with their...
...with workers in two of its mobile-phone factories to increase the workweek from 35 to 40 hours--with no increase in pay. And DaimlerChrysler won $600 million in wage concessions from its workers after threatening to move 6,000 Mercedes-Benz factory jobs from a Stuttgart suburb to lower-cost factories in northern Germany and South Africa. Such battles are bitterly divisive, but they may be necessary if Germany is to become competitive again. Longer hours without more pay would boost growth. Yet longer hours with more pay, as some unions will require, would encourage spending, which Germany desperately...
...year - agreed to give back 10% of its salary as part of the settlement. Will the attempts at forced executive givebacks make Europe's workers more willing to accept longer hours? It's too early to tell. But workers know employers are more than willing to move factories to lower-cost countries - Siemens alone has moved 71,000 jobs abroad since 1993. So it seems likely that when bosses and workers and politicians alike return from their summer holidays, resolving the 35-hour workweek will be on everyone's to-do list...
...United) is "selective subsidization" and "the worst form of intervention that wastes limited public funds and harms consumers." The CEOs of AirTran, America West, Frontier, JetBlue and Spirit airlines argue that the big carriers should not be given government help while they devote millions of dollars to undermining their lower-cost and lower-fare competitors. The CEOs cite as an example United's decision to spend money to repaint some of its planes and start a new low-cost airline called...
Vince Kosmac of Orlando, Fla., has lived both sad chapters of outsourcing--the blue-collar and white-collar versions. He was a trucker in the 1970s and '80s, delivering steel to plants in Johnstown, Pa. When steel melted down to lower-cost competitors in Brazil and China, he used the G.I. Bill to get a degree in computer science. "The conventional wisdom was, 'Nobody can take your education away from you,'" he says bitterly. "Guess what? They took my education away." For nearly 20 years, he worked as a programmer and saved enough for a comfortable life. But programming jobs...