
The high-tech equipment maker, Nortel, plans to cut 2,100 jobs. These job cuts will primarily be in north America. The company also plans to transfer 1000 jobs to lower-cost countries. This is the second round of company reconstructing, in February 2007 the company cut 2,900 jobs and transfered an additional 1,000 to cheaper regions.
This hurts the North American economy greatly, by making these job cuts we are losing many jobs for the purpose of these corporations to cut back on some expenses. Although it allows for less expensive products being sold here, we are losing jobs to other countries and we become heavily reliant on other countries. I think that the government should implement a way to discourage the movement of jobs to other countries to save on expenses. This could include taxes to the company when hiring outside of the main country, the government could use this tax money to give to laid off workers such as in this case.
http://www.cbc.ca/money/story/2008/02/27/nortel-jobs.html