Financial Crisis

IBM should come clean on engineering layoffs

(Source: EE Times. 4 May 2009.) Perhaps more than any other U.S. high-technology company, IBM Corp. has been subjected to intense media scrutiny in the aftermath of a string of recent under-the-radar layoffs. Much of that unwanted attention is a direct result of union activism that has taken on a decidedly "we're mad as hell and we're-not going to take it anymore" tone. Following an IBM shareholder meeting last week, fighting words like "greed" were being lobbed like hand grenades. For its own reasons, IBM executives continue to say little about company layoffs. That policy has backfired, attracting still more scrutiny and criticism.

Angry French workers protest TI layoffs

(Source: EE Times. 3 February 2009) SAN JOSE, Calif. — Angry employees at Texas Instrument Inc.'s French subsidiary have held demonstrations in recent days to protest recent job cuts and lackluster severance packages offered by the U.S. chip maker, according to reports and sources at the company. Workers at TI France have basically gone on ''strike,'' thereby slowing product development at the site, according to a source within the chip maker. Seeking to resolve the matter, TI (Dallas) and workers at the company's French unit are in negotiations over compensation packages and other issues, but the talks appear to be hitting the wall, according to a report from the Rivera Radio Web site.

French IT workers strengthen culture of protest

(Source: EE Times Europe. 17 June 2009) Fear of unemployment is rising in France as recession takes hold. Strikes, riots and social unrest have gone to extremes as workers feel they are running out of options and, even worse, they have nothing to lose. About 250 workers at Altis Semiconductor SA, a joint venture between Infineon and IBM, have been blocking production since June 15. Trade unions have announced "an unlimited strike" and called for "an acceptable restructuring program".

GM bankruptcy a disaster for workers

By Martha Grevatt Source: Workers' World. Jun 3, 2009 On June 1 General Motors—a hundred-year-old company that for decades was the world’s largest—filed for Chapter 11 bankruptcy. This follows months of speculation, where “possible” became “50-50,” which then became “more probable than not.” Now the world is witnessing the downfall of a giant that still employs a quarter-million workers.

ACFTU in a time of crisis: Back to the old ways?

Hong Kong Liaison Office (IHLO) of the international trade union movement April 2009http://www.ihlo.org/LRC/ACFTU/070509A.html Last September, the financial crisis spread to China. This had a direct impact on eastern and southern China, especially the export manufacturing areas in the southeast of China. There was a large increase in factory closures and layoffs further exacerbating a general trend of factory closures in the region.

趙耀華﹕獨家專訪亞當斯密

(Chinese Only)

Statement of Anticapitalist European left conference

It's not for people and workers to pay for the crisis, the capitalists should pay! April 3, 2009, Strasbourg The next European elections will be held during the worst crisis capitalism has known since 1929. Economic, social, financial, banking, food, climatic, it is a global, general crisis. Once again, the ruling classes want to make workers and peoples pay for the crisis. Governments have given hundreds of billions to banks but at the same time millions of layoffs fall on employees. Unemployment is going through the roof. The purchasing power of wages is falling. The destruction of public services continues.
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