Apple has destroyed 490,000 U.S. jobs or something

“After taking heat for shipping jobs to China and contracting to employers with questionable labor conditions, Apple (rather publicly) took credit for creating more than half a million jobs in the U.S.,” Eric Platt and Ben Duronio write for The Business Insider. “514,000 to be exact.”
“But what about the competitors Apple has bumped off in its relentless move to the top? What about the once-profitable markets, products, and companies it has destroyed? What happened to those jobs?” Platt and Duronio wonder. “Business Insider analyzed data on Bloomberg, went through dozens of 10-Ks, and read through layoff announcements to see how Apple’s peers have done.”

Platt and Duronio write, “What we found: Apple has destroyed nearly as many jobs as it helped create, eliminating some 490,570 positions… Let’s take a detailed look at all the jobs Apple has destroyed or helped destroy. Here’s our methodology: Business Insider identified some 50 companies that Apple’s success has impacted, including big names like IBM and HP, and smaller ones like Barnes & Noble and Adobe. Some companies and peers prospered. Most did not, announcing a combined 306,606 layoffs over the past several years.”


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