Word: labor
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...country's economic czars began to attract multinational companies like Hewlett-Packard, IBM and Matsushita to locate their manufacturing facilities in Singapore in the 1960s, they tacitly agreed to keep wages for blue-collar workers low by de-fanging the unions that once had a stranglehold over the labor force. As a cargo handler, for instance, Krishnan made just $1,000 a month...
...been a long ordeal for active and retired auto workers, and a time of great uncertainty," said UAW President Ron Gettelfinger. The deal was reached, Gettelfinger said, "in the face incredibly trying circumstances." Italy's Fiat, currently in negotiations over a possible association with Chrysler, has also demanded significant labor cost savings as a prerequisite to any deal. (Read a 2-min. bio of Obama's car guru...
Less optimistically, firms might be realizing they've let go of so many already, more cuts would hit bone. Also, reducing paychecks during a recession can provide cover for companies that had been looking to trim labor costs anyway. But maybe we should hope for purer intentions. And that the plan for avoiding layoffs works...
...people. You know how that story went. Patrick Yarns is the only family-owned spinning plant still standing in the small mill town, and billion-dollar corporations like Springs and Pillowtex have either moved their manufacturing overseas or vanished. The bigger picture is even worse. According to the U.S. Labor Department, the country lost more than 4 million manufacturing jobs from 2000 to 2008, a number that is likely to rise when the damage from this recession is counted...
...Harvard’s administrators likely spend much more time shaking the hands and sharing the confidences of the rich and powerful than they do finding out the names, fears, dreams, and wisdom of the janitors, cooks, and guards who, in that long-lived tradition of master-servant relations, labor invisibly each day,” Jehn wrote in the Globe article.Preceptors also continue to voice objection to the current system of one-year contracts—which preceptors have protested denies them job security—and a five-year limit on working in the position...