An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, May 23, 2013
Al Jazeera — Ford to stop making cars in Australia
Closure of two production units, blamed on high costs and low volumes, to result in loss of 1,200 jobs by 2016.
Yesterday, besides Ford Australia, the news came that Swan Services, one of the biggest cleaning firms in Australia, went belly up.
Up to 2,500 cleaners, most of them young foreigners on student visas, will also lose their jobs. They risk to lose the amounts the firm owes them (holidays, unpaid superannuation, etc.).
And the Australian economy, as they keep saying, is one of the best performers among the OECD nations.
Yesterday, besides Ford Australia, the news came that Swan Services, one of the biggest cleaning firms in Australia, went belly up.
ReplyDeleteUp to 2,500 cleaners, most of them young foreigners on student visas, will also lose their jobs. They risk to lose the amounts the firm owes them (holidays, unpaid superannuation, etc.).
And the Australian economy, as they keep saying, is one of the best performers among the OECD nations.