After Taking A $10 Billion Bailout, Goldman Sachs Announces It Will Outsource 1,000 Jobs To Singapor

[Donnachaidh]

http://thinkprogress.org/economy/2011/06/28/255724/goldman-sachs-outsource-1000-jobs-singapore/

Less than three years after receiving $10 billion in bailout money from American taxpayers, Goldman Sachs informed its employees recently that it will fire 1,000 workers in the United States and elsewhere, shifting their jobs to the cheaper Singaporean labor market.

According to Fox Business, Goldman Sachs has quietly informed workers and lawmakers of its plan to outsource 1,000 jobs in an attempt to inoculate itself from the impending blowback:

Goldman is so concerned about the potential for criticism that the firm’s representatives have been alerting staffers of lawmakers in Washington of the hiring spree in recent weeks as a way to mollify any concerns they may have about previously undisclosed plans to add 1,000 jobs to the firm’s Singapore office, according to people in Washington with direct knowledge if the matter. Goldman is concerned about criticism because it is adding those jobs while it is planning what could be a significant retrenchment in its U.S. workforce, these people say.

Goldman Sachs has also worked to protect itself by hiring former Republican Sen. Judd Gregg (NH) as an “international advisor.” It is not unreasonable to assume that Gregg’s 26 years in Washington will help the investment firm’s attempts to placate critics.

More at the link --

[Uncle Joe]

1. Kicked and recommended.

Thanks for the thread, Donna.

[StarburstClock]

2. Sadly most financial information is way over most people's heads

so they don't even know how corrupt GS is, along with JPMorgan, Citibank and others.

[rhett o rick]

13. Are you referring to our Democratic leaders? nm

[Tippy]

3. K&R.......

[theaocp]

4. I wonder what politicians give back for

the donations these banksters give them? Aside from the bailouts. :think:

[Donnachaidh]

5. they probably have GS take care of their assets in the Caymans

Don't kid yourself -- these crooks stash their cash with both hands, probably more than the corps do.

[WhiteTara]

6. I'm sick of this. n/t

[Urban Prairie]

7. They need to change their corporate name as well, "Foldman Sucks" better befits them IMO. n/t

[CrossChris]

8. Why shouldn't they do this? Because they love us?

Companies like this just do whatever the law allows, that maximizes their profits. The system is broken for us, but it's run by people who benefit from it. So until "we" run the system or can exert any influence on it in some way, we can just start accepting this.

[onethatcares]

9. see, tax cuts do create jobs.

just not here in the good old U.S. of A.

Jeez, like they were gonna hire more gardeners for the GS Plazadome or sumpin.

[democracy1st]

10. K & R

[progressoid]

11. FREEMARKET!! USA!1 ETC.!!!

[Initech]

12. We just bailed out the bullshit executives for absolutely nothing.

[xchrom]

14. ...

:mad: