The company said on Tuesday that it would instead invest $700 million to increase production in Michigan. The CEO says the reason is because of market demands. They didn't see the demand for the cars they wanted to build in Mexico, so staying in the US was a business decision. He also said that he is encouraged by the pro growth policies signaled by the Trump administration.
The thousands of telecommunications jobs President-elect Donald Trump claimed Wednesday that he was bringing back to the United States were part of a previously announced investment deal between Sprint and its main funder, SoftBank. "5,000 jobs announced today are part of the 50,000 jobs that [SoftBank CEO Masayoshi Son] previously announced. It will be a combination of newly created jobs and bringing some existing jobs back to the U.S," a Sprint spokeswoman said in a statement to Politico, after Trump made his announcement to the press.
One after another, the gamblers totter along the twisting walkway, bathed in artificial purple light — burdened, at least occasionally, by the instinct that they should have known better. Usually, this pathway outside Parx Casino is reserved for self-flagellation, a private lament at the last hundred lost. But lately, as with most any gathering place around here since late January — the checkout line, the liquor store, the park nearby where losing lottery numbers are pressed into the mulch — patrons have found occasion to project their angst outward, second-guessing a November wager.
Tech companies have a lot at stake. The United States admits 85,000 people into the country each year on H-1B visas, 20,000 of whom are graduate student workers. But Trump says companies exploit the system to the disadvantage of American workers.
The president promised to save 1,100 Indiana jobs, but the company never agreed and now six months later, they’re beginning layoffs. Inside the plant, some workers were skeptical. Carrier had promised layoffs, which Trump glossed over in his claim to save over 1,000 jobs.On Monday, these workers were proven right. Though Trump struck a deal with Carrier promising them $7 million in local business incentives if they kept their Indianapolis plant open, the heating and cooling company warned that it would still outsource a number of Indiana jobs to Mexico, regardless. But the Trump campaign still championed the deal as a win for American workers. This week, the Carrier announced it will cut 632 jobs from its Indiana plant by the end of the year.
More than 200 workers clocked in for their final shifts on Thursday at Carrier Corp. in Indianapolis in the latest round of layoffs at a plant President Donald Trump toured in December 2016 to trumpet a deal to save jobs and prevent its closure.
The layoffs have stunned these steelworkers who, just a year ago, greeted President Trump’s election as a new dawn for their industry. Mr. Trump pledged to build roads and bridges, strengthen “Buy America” provisions, protect factories from unfair imports and revive industry, especially steel.
President Donald Trump dealt his biggest blow to the renewable energy industry yet.On Monday, Trump approved duties of as much as 30 percent on solar equipment made outside the U.S., a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply.
Potential perils are in plain sight: An intense and unpredictable tariff battle is alarming businesses across the country. The annual federal deficit is heading toward $1 trillion. Credit card debt is soaring. And the synchronous wave that lifted every world economy at the year’s start has dissipated. So what? Such risks have done little to puncture the exuberant optimism that is encouraging American businesses to ramp up hiring and consider new investment.
Jack Ma, founder and chairman of Chinese retail giant Alibaba, says the company no longer plans to create 1 million jobs in the United States in the wake of the ongoing trade conflict between the U.S. and China.