Multinational corporation Dexcom, Inc. — which manufactures continuous glucose monitoring systems — has announced that it will lay off about 350 Americans in San Diego, California, and Mesa, Arizona, to outsource their jobs overseas, and specifically to the Philippines.
Dexcom executives announced this week that the corporation will lay off 350 American workers in order to outsource and offshore their jobs to foreign countries where workers are paid slave wages.
The corporation’s chief executive, Kevin Sayer, told the San Diego Union-Tribune that the bulk of the layoffs will hit customer service, sales, and tech support workers.
Despite boasting about massive sales and rapid company growth, Dexcom executives will outsource the hundreds of American jobs to a facility in the Philippines and in other regions of Asia. Meanwhile, Dexcom CEO Terrance Gregg continues earning a yearly salary of more than $3 million.
Cheap, foreign labor is the most prominent driver of multinational corporations outsourcing American workers’ jobs to third-world nations, with the help of global free trade.
For instance, while the average yearly American family’s income is roughly $73,000, the average family’s income in the Philippines is about $5,200 U.S. dollars, making it a haven for multinational corporations to exploit cheap labor, lay off Americans, and widen executives’ profit margins.
Outsourcing and the offshoring of American jobs to foreign countries is a business model that has been embraced by multinational corporations like Wells Fargo, General Motors, AT&T, Harley-Davidson, Ralph Lauren, Nike, and IBM have all laid off Americans in order to send their jobs overseas.
John Binder is a reporter for Breitbart News. Follow him on Twitter at @JxhnBinder.
COMMENTS
Please let us know if you're having issues with commenting.