My prior knowledge about Ireland's economy is nil, but I do know that the whole world is kind of going through an economic recession right now, and Europe especially has increasing unemployment rates. Many companies are doing all they can to create jobs, just like Deutsche Bank has, but some can't manage to, and even have to cut back, like Lufthansa Technik Airmotive. I believe this article was written to contrast the two cases, but also to show how companies should be making progress in these times instead of cutting jobs. What I found interesting about this article is how they are cutting jobs because the machines are more efficient. What if one day there are no more needs for humans in the labour workforce because, maybe, machines are doing everything for us? It happened in factories, and during the industrial revolution. What if machines took the place of several other jobs today, like chefs, doctors, teachers, even performers? That would put so many people out of work, but maybe that is the way we are going.
Monday, November 18, 2013
In Ireland, Bank Creates Jobs While Another Company Cuts Some - by Frances Garnett
Deutsche Bank, a German bank, has recently announced that it has plans to create around seven-hundred new jobs over the next four years, by expanding their technology and operations unit and their global transaction and banking business to a new, large office in Eastpoint Business Park in Dublin. This announcement is a big deal, since it's once of the biggest this year. The company plans to create a secure investment there by building up a regional centre. One official said that this is a "huge vote of confidence" for Ireland's economy, and is about continued investment there. On the other hand, Lufthansa Technik Airmotive, in Ireland, is considering closing the company, which would result in the loss of about four-hundred jobs, because of the decreasing incomes and international market opportunities. It's also because the increasingly advanced aircraft engines are better in quality and are more efficient, so they don't have as great of a need for maintenance. The company is negotiating with trade unions, in case the closure is deemed inevitable, in order to make sure the soon-to-be-unemployed workers will get their pension entitlements and other parts of packages to help support them. All the unions are trying to save as many jobs as possible. The employees are also unhappy with this, since the future is very bleak for young and old workers alike.
My prior knowledge about Ireland's economy is nil, but I do know that the whole world is kind of going through an economic recession right now, and Europe especially has increasing unemployment rates. Many companies are doing all they can to create jobs, just like Deutsche Bank has, but some can't manage to, and even have to cut back, like Lufthansa Technik Airmotive. I believe this article was written to contrast the two cases, but also to show how companies should be making progress in these times instead of cutting jobs. What I found interesting about this article is how they are cutting jobs because the machines are more efficient. What if one day there are no more needs for humans in the labour workforce because, maybe, machines are doing everything for us? It happened in factories, and during the industrial revolution. What if machines took the place of several other jobs today, like chefs, doctors, teachers, even performers? That would put so many people out of work, but maybe that is the way we are going.
Source: http://www.irishtimes.com/business/sectors/financial-services/deutsche-bank-to-create-700-jobs-as-lufthansa-threatens-to-cut-400-1.1596170?page=1
My prior knowledge about Ireland's economy is nil, but I do know that the whole world is kind of going through an economic recession right now, and Europe especially has increasing unemployment rates. Many companies are doing all they can to create jobs, just like Deutsche Bank has, but some can't manage to, and even have to cut back, like Lufthansa Technik Airmotive. I believe this article was written to contrast the two cases, but also to show how companies should be making progress in these times instead of cutting jobs. What I found interesting about this article is how they are cutting jobs because the machines are more efficient. What if one day there are no more needs for humans in the labour workforce because, maybe, machines are doing everything for us? It happened in factories, and during the industrial revolution. What if machines took the place of several other jobs today, like chefs, doctors, teachers, even performers? That would put so many people out of work, but maybe that is the way we are going.
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