In a recent piece by China Daily they report on the layoffs amongst high tech companies. They state:
Labor unrest is expected to spread following massive layoffs at several IT giants, with experts calling on multinationals to take the issue seriously. Cisco Systems has announced a plan for global job cuts, while thousands of Microsoft employees in China are trying to negotiate a deal for better compensation following layoffs. "Labor disputes involving overseas information technology companies are set to grow for the next two years at least as the Chinese economy slows," Zhang Zhiru, a labor rights expert at Shenzhen Chunfeng Labor Disputes Services Center, said on Thursday.
Thus China is starting to see the contraction that can occurs as salaries rise and labor can be outsourced elsewhere.
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- Terry has spent most of his career in industry, half in corporate executive positions, and half involved in his start ups. He started on the Faculty and Staff at MIT in 1967 and was there until 1975, and he had returned to MIT from 2005 to 2012 to assist groups of doctoral and post doc students. Terry has focused on a broad set of industries from cable, to satellite, wireless, and even health care software and medical imaging. Terry has published extensively in a broad set of areas as well as having written several books. Terry has returned to Medicine on Boards at Columbia University Medical Center. Copyright 2008-2024 Terrence P McGarty all rights reserved. NOTE: This blog contains personal opinions of the author and is not meant in any manner to provide professional advice, medical advice, legal advice, financial advice. Reliance on any of the opinions contained herein is done at the risk of the user. For publications see: https://www.researchgate.net/profile/Terrence_Mcgarty
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