...I'm okay with being REALITY-based.

Friday, July 23, 2004
      ( 11:53 AM )
Jobs, What Jobs?

So, while Bush traipses around the country campaigning this week and conservative pundits have nothing better to talk about except stupid lies about Sandy Berger, 10,000 jobs have been cut in the last three days. Big American employers are continuing to cut jobs, despite rising profits, because it's more profitable for them to hire overseas.

Capitol One, meanwhile, is “working aggressively” to send its jobs overseas, allowing them a better chance to “win in our markets.”

Capital One is shutting down its sprawling credit card call center in Tampa, eliminating 1,100 jobs and delivering a serious blow to a decadelong effort to upgrade the area’s economic base.

The Tampa job cuts, which were announced along with smaller staff reductions in Dallas and Richmond, Va., are part of Capital One’s ongoing push to outsource much of its customer relations work.

“Although this was a difficult decision, I know that it is the right decision for the U.S. Card business and for Capital One,” Catherine West, president of the company’s U.S. Card business, wrote in a memo circulated to employees Wednesday afternoon. “It enables us to achieve the cost efficiencies we need to win in our markets.”

When markets rule the world, we'll all be happier. Right? Right?

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