08.08.11

Cosmetic changes at the biggest corporate tax dodger

Posted in Decline and Fall at 8:04 am by George Smith

Jeff Immelt of GE, perhaps showing a bit of discomfort from his company’s role in the great de-jobbing:

General Electric Co. (GE), once still vilified in the U.S. for leadership in outsourcing jobs, is pulling more information-technology positions back in-house.

Chief Executive Officer Jeffrey Immelt has said GE will add more than 15,000 jobs in the three years through December. About 1,100 will be just outside Detroit in a center for information technology, a field emblematic of outsourcing. So far, GE has hired about 660 people in Michigan, a state that led the nation in jobless rates, making it a symbol of U.S. industrial decline.

Manufacturing expenses in the U.S. have narrowed in comparison to countries like China and India, helping GE add skilled jobs like the 125 planned at a flagship gas-turbine plant in Greenville, South Carolina, Immelt said in July.

About $17 billion of GE’s $150 billion in sales last year came from exports, a trend that fuels creation of such positions, Immelt said July 13. In the second quarter, about 59 percent of GE’s total sales came from overseas.

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