US PRESIDENT TRUMP MEETS HEADS OF FIRMS FIRING STAFF
The US president, who vowed to stop US manufacturing from disappearing overseas, is seeking advice on job-creation from five companies that are laying off thousands of workers as they shift production abroad. About 2,300 US workers stand to lose their jobs within the next two years ..
President Donald Trump, who has vowed to stop US manufacturing from disappearing overseas, will seek job-creation advice on Thursday from at least five companies that are laying off thousands of workers as they shift production abroad.
Caterpillar Inc, United Technologies Corp, Dana Inc, 3M Co and General Electric Co, are offshoring work to Mexico, China, India and other countries, according to a Reuters review of US Labor Department records.
Executives from the five companies are among a group of business leaders due to meet with Trump on Thursday to discuss how to help the president deliver on his promise to increase factory employment, according to the White House.
About 2,300 US workers at these five companies stand to lose their jobs within the next two years as a result of offshoring, according to the Labor Department’s Trade Adjustment Assistance Program.
When auto-parts maker Dana Corp closes a factory later this year in Glasgow, Kentucky, teh work will be picked up by factories in Mexico, India and China. Dana CEO James Kamsickas is among those to meet with Trump.
Trump has painted globalisation as a zero-sum game that has enriched low-wage countries while leaving the US littered with underemployed people.