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Armstead

(47,803 posts)
Thu Mar 10, 2016, 03:09 PM Mar 2016

That wonderful Boeing Corp and the corporate behavior the IMEX Bank supports...

http://jobs.aol.com/articles/2012/10/02/the-indignity-of-outsourcing-one-former-boeing-workers-tale/

Meet Stephen Gentry. His story begins 10 years ago, when then a Boeing engineer for 15 years, Gentry was called into the office during Christmas vacation and told that he was being laid off. His job was going to be outsourced.

And it got worse: He was informed that he had to train his Indian replacement.

His bosses told him, he recalls, to "hide and cover up my feelings, and be grateful."

He says that he will never forget when the team's replacements from Infosys in Bangalore, India, showed up at Boeing's Seattle office for three months of training. Boeing managers told Gentry and his team of 10 co-workers that their pensions and severance packages hung in the balance of proper completion of the three-month training. (Neither Boeing nor Infosys responded to requests for an interview from AOL Jobs.)

Gentry knew that he had to be a good corporate soldier, but on the day before the Indians arrived at Boeing's offices, Gentry recalls that he and his team received emails from Boeing higher-ups instructing the American workers to make the Indians feel "at home and welcome." He dashed off a half-joking email to his boss, writing, "So we're teaming with the enemy?"

His manager wasn't amused, according to Gentry. "He wrote back, 'Don't go there if you want to keep your pension,'" he recalled. Because of his years of service and age, Gentry was entitled to a retirement package.

He went on a vacation to the Grand Canyon, optimistic. He was expecting there would be "more opportunities very soon."

But the nine years that followed were tough. He bounced from one contract job to another, holding only one staff position -- with a contractor of the the Securities and Exchange Commission -- for a year.

Gentry's story is not uncommon. Outsourcing jobs overseas, or offshoring, has become routine in the last decade, as companies cut costs by maintaining divisions in foreign countries where labor is cheaper. An analysis completed by the Wall Street Journal found that U.S. multinationals outsourced 2.4 million jobs overseas from 2000-2010.
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That wonderful Boeing Corp and the corporate behavior the IMEX Bank supports... (Original Post) Armstead Mar 2016 OP
In service to shareholders KT2000 Mar 2016 #1
Behavior that would not have been accepted 40 years ago is now commonplace Armstead Mar 2016 #2

KT2000

(20,572 posts)
1. In service to shareholders
Thu Mar 10, 2016, 03:31 PM
Mar 2016

at one time businesses were allowed to incorporate with the provision they also serve the common good of society. I don't know if that has been removed from their charters or if the common good now includes only shareholders. Incorporation was supposed to bestow unequal benefits compared to small businesses and they would return the favor by improving society. I wonder how many are actually in violation of their charters.

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