Loss of 3,000 Mexican steel jobs has an Asia connection
Article Abstract:
Altos Hornos de Mexico, the largest steel producer in the country, has announced that it will layoff 3,000 workers due to a decline in international demand and an excess in cheap steel in economically-battered Asia. The layoffs, which are the first in Mexico's steel industry since 1991, parallel a plunge in Mexican oil prices to to decreasing demand, leading industry analysts to claim that the effects of the worsening Asian economy now are being felt beyond the financial markets in Mexico. Altos Hornos, which controls about a quarter of Mexico's $4.3 billion per year steel industry, also is cutting costs to battle low steel prices.
Comment:
The largest steel producer in the country has announced that it will layoff 3,000 workers
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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IBM to pay Mexico City millions for failed system
Article Abstract:
A $37.5 million agreement was reached between Mexico City and the Mexican unit of International Business Machines, IBM de Mexico, to settle a dispute over the failure of an IBM data base system. Executives from IBM de Mexico, who sold the nearly $26 million system to Mexico City two years ago, still may face criminal charges in the case. IBM is also fighting bribery charges in Argentina which stem from its winning bid for a $250 million government contract. IBM de Mexico also will assist Mexico City's district attorney's office in upgrading its technology-modernization program in an agreement paralleling the settlement.
Comment:
A $37.5 million agreement was reached between Mexico City and IBM de Mexico in dispute over failure of data base system
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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A 20-year G.M. parts migration to Mexico
Article Abstract:
General Motors (GM) transfer of production from Michigan to Matamoros, Mexico is part of the car maker's broad shift of its American auto parts industry into Mexico that has taken place over a twenty year period. GM has constructed over 50 auto parts production facilities in Mexico since 1978. These factories have 72,000 workers. Delphi Automotive Services, GM's parts subsidiary, is the largest private employer in Mexico. The transfer of production to Mexico, as well as to other nations, has caused United Auto Workers unions to charge GM with "putting America last."
Comment:
Transfer of prodn from Michigan to Mexico is part of co's 20-year broad shift of its American auto parts ind to Mexico
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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