Huawei Reportedly Plans Massive US Layoffs (cnet.com) 126
Huawei is planning major layoffs at its US research labs as it struggles under the weight of the Commerce Department blacklisting, The Wall Street Journal reported Sunday. From a report: The embattled Chinese telecom's Futurewei R&D subsidiary employs about 850 people in Texas, California and Washington state. The layoffs may number in the hundreds, according to the Journal, which cited anonymous sources. A few people apparently already know that they'll be dismissed, but further cuts are expected and some Chinese workers are being allowed to continue with Huawei if they return home.
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The effect of ones income on the economy is general estimated at 10-12 dollars for every dollar earned.
Where I get a dollar and spend 90 cents of it (90%) the person who gets my 90 cents will then spend 81 cents of it.....
So you combine all those value. You get around 10-12 depending on how much people decide to save.
Depending on the jobs they are cutting, lets expect an average salary of 50k a year. so 50k * 850 * 10 we get $425,000,000 loss to the economy.
The US Economy is rather diverse, and is strong,
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Not fake math but Economics which can sound a bit insane when you haven't studied it.
The simplest concept I can think to relate this to is generally called "The Circular Flow of Money" or something along those lines.
Diagram of it here:
https://saylordotorg.github.io... [github.io]
Basically what he's saying is the rate of "Disposable Income" in households will decrease which means that sector is unable to feed that money back into the economy. That money will remain in the firm instead of flowing into other sectors of th
Duh (Score:5, Insightful)
If they are effectively barred from doing business in the US, they have no reason to stay. The Huawei buildings in Silicon Valley are close to Qualcomm and a little ways away from Samsung. I imagine some workers will be able to find jobs nearby.
If there is any real PRC spying effort, you can bet they'll work to get their top people reassigned to key positions in dozens of Bay Area tech companies. They'll be mixed in with hundreds of ordinary people just looking for work.
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Assuming these places have job openings. 850 employees are hard to absorb into 3 companies even big ones.
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That is still 850 jobs that could had gone to someone else. Or how many of these jobs would be downgrades from their previous job.
When I was lay off back in 2008. I was able to get a Job in under 2 weeks, I actually never missed a paycheck. However that new job didn't pay as well, and had worse hours. Every business at the time knew the economy was sucking, so they knew they could get employees dirt cheap.
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If they are effectively barred from doing business in the US, they have no reason to stay. The Huawei buildings in Silicon Valley are close to Qualcomm and a little ways away from Samsung. I imagine some workers will be able to find jobs nearby.
If there is any real PRC spying effort, you can bet they'll work to get their top people reassigned to key positions in dozens of Bay Area tech companies. They'll be mixed in with hundreds of ordinary people just looking for work.
What about the secondary and tertiery effects of the layoffs. The suppliers to Huawei, and the suppliers to the suppliers are all going to feel it. It will even trickle down to the booth "mall located" cellphone sellers. Trump spit into the wind.
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But how far will the need to move?
How many talented but with less experience workers will not get their big break because these people took their job?
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Re:Interesting framing (Score:5, Informative)
Perhaps it is massive in the sense that it is a very large portion of their US-based workforce?
Massive is a subjective term.
It could be massive to the company being described.
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$4 billion subsidy
Now do Huawei
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Foxconn employs only 156 in Wisconsin [slashdot.org]. Something about counting chickens comes to mind, SuperKendall.
Perfectly happy to call Foxconn's failure to hire 12800 people a "massive failure" as you insist, however.
Foxconn in Wisconsin = Massive failure by Scott Walker and his crew.
Re:Interesting framing (Score:5, Insightful)
So 850 employee layoff is "massive", while the Foxconn employment of 1500 employees in Wisconsin is only described as far short [slashdot.org].
Ok...
1500 is "far short" when they promised 13000. If your next paycheck was missing 90% would you say they were off by "just a little bit?"
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Nope. I'd probably say it was "far short."
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I think the big issue with the Foxconn project is that each job is estimated to cost taxpayers $231,000 per job:
https://en.wikipedia.org/wiki/... [wikipedia.org]
Which is actually a conservative estimate - the outset would be $346,000 per job.
This sucks hard for the 850 (Score:2)
Also, I can't imagine anyone who works for Huawei US that hasn't been looking for a new job.
I'm shocked, SHOCKED! (Score:2)
Like this wasn't obvious from a mile away.
Whether you agree with the sanctions or not, you'd have to be delusional to think Huawei would not pull their resources out of a market that is giving them difficulty.
Comment removed (Score:5, Interesting)
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they will be taxed and investigated like they are foreign entities.
They will be delighted by that. Foreign entities pay LESS tax in America. Many American corporations are trying to domicile in friendlier countries, and the American government is struggling to stop them.
Treating all corporations the same would be huge reform, and is long overdue.
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Offer Taiwan to be a 51st state and tell China to fuck off. Those communists choke on a bag of dicks!
Trump could just do Trump and formally recognize Taiwan as an independent state. He's the only one that has the balls/ego and lack of foresight/knowledge of international politics to do it. Besides, nothing tends to make America great like a good ol' fashioned shooting war.
Seriously though, if anyone were to do it it would be Trump. Personally, there's a lot of beating around the bush when the reality is Taiwan is treated as an independent state in all but name by the majority of the world. Territorial
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You forget that Trump is a weenie at heart. As soon as the Chinese started rattling real sabres, Trump will run off and loudly proclaim "Victory with Honor". Worse, they'll pull their money out of his grifting ventures.
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Taiwan doesn't want to be an "independent state" though - they want to govern *China*.
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China is starting to play hard ball:
China's in trouble. First of all, we have a more massive military. Second, UN inspectors are going into China to inspect their concentration camps soon. If the UN finds they're not abiding by its conventions, you can guess what is going to happen next. It'll be the same thing as when Saddam Hussein gassed the Kurds. China needs to watch itself on the global stage.
China has the largest standing military in the world. The US only beats China in terms of numbers if you count domestic forces that are unlikely to be deployed in an international conflict (Border Patrol, federal security forces, Coast Guard to an extent,etc). China is also slightly bigger than the US in terms of land mass, and has the political will and ability to force conscription. Desert Storm is a bad example. I would lean more towards Operation Barbarossa. Oh, yeah, and they have nukes.
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You're talking about ground troops. China's military is largely old tech and would be unmatched. Ground forces won't matter.
Ground troops are what take and hold territory, which is how you win a war. Ask the NVA or the Japanese Imperial Army what bombing and air power does to prepared defenses. The answer is, not much. The US military couldn't even take and secure all of Afghanistan or Iraq.
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We shall see soon enough if diplomacy fails.
Sounds good. I've got a bad back. No draft for me.
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Not directly. We could see a second run of the Vietnam war in a new location...if we're stupid enough.
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We shall see soon enough if diplomacy fails.
Sounds good. I've got a bad back. No draft for me.
Nice narcissism there. This has nothing to do with you or me. The only thing that can matter is what country you're in.
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We shall see soon enough if diplomacy fails.
Sounds good. I've got a bad back. No draft for me.
Nice narcissism there. This has nothing to do with you or me. The only thing that can matter is what country you're in.
Should still be safe, since I'm eastern seaboard US away from the obvious places like DC or NY. All I'd have to worry about is the fallout, so I'll just stock up on Nuka-Cola.
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Should still be safe, since I'm eastern seaboard US away from the obvious places like DC or NY. All I'd have to worry about is the fallout, so I'll just stock up on Nuka-Cola.
By the time anything happens, I'll be in a much better place than you, have more freedom than you do and have a big bucket of popcorn.
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Really, what is the U.S. going to do, specifically? You neatly forget it took Bush Sr. the better part of a year to park a good portion of the U.S. military in a friendly country and had a lot of surplus equipment in Europe which wasn't that far away. Then he gave the go-ahead against an Iraq that couldn't fight back.
Here's useful list of things to consider, after the U.S. parks it military in a friendly country close to China...errr...we'll be needing one of those. The Koreans probably aren't going to volu
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Can you Americans make up your fuck8ng minds? Are you a) victims and hard done by and the whole world is unfair, or b) are you the mightiest and all should bow down iñto your greatness?
Seriously...you lot are boring
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No, we can't. If you haven't noticed that so far, look around at any single topic. There will be vast disagreement. Some people will, e.g., claim that tobacco smoking is good for you. Some will claim that measles is good.
I'm not really sure that any other country is more unified, but many present a more unified image.
Travel and be Free (To buy stuff) (Score:2)
We were traveling in Asia for the past few weeks.
Since Mr Trump told us not to buy Huawei stuff, we got ourselves a new Huawei tablet in Singapore.
The TSA goons scanned it twice. Welcome back to America.
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Your black and white worldview limits your enjoyment of life.
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I didn't see an apology anywhere. Your grasp on reality has slipped.
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Do you work for the TSA? If not, I'm sure they would welcome you with open arms.
Shrug. (Score:1)
expected (Score:1)
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But unless you a psychopath, how can you sleep at night with a job like that.