Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Trump Killing Huge Job Creator
Posted
March 5, 2018
Views
111,534
Likes
1,718
Comments
612
Engagement
2.09%
March 5, 2018
111,534
1,718
612
2.09%
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5:45Now PlayingTrump is killing the solar industry, one of the fastest growing job creators in the country. Cenk Uygur and Ana Kasparian, the hosts of The Young Turks, discuss why.
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“President Trump’s decision to impose tariffs on imported solar materials is already taking its toll on U.S. jobs.
After putting plans on hold last month to expand its factories in the United States, SunPower Corp., one of the nation’s largest solar panel manufacturers, now intends to lay off between 150 and 250 workers from its U.S. operations, or 3 percent of its global workforce, as part of a plan to cut operating expenses by 10 percent.
SunPower attributed the job cuts to the 30-percent tariffs imposed by the Trump administration on imported solar cells and panels, The Hill reported Wednesday. Company chief executive Tom Werner estimates the new tariffs will cause the company to lose $50 million in 2018 and as much as $100 million in 2019.
Werner’s comments built on information that SunPower released in a filing submitted to the Securities and Exchange Commission (SEC) last week. The news also came only two weeks after SunPower reported a 35-percent decrease in revenue in 2017 compared to 2016.
Werner told The Hill that it has already begun the layoffs. Based in San Jose, California, SunPower imports most of its components from manufacturing facilities in the Philippines and Mexico.”
Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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