They are closing a plant in CT and transferring all manufacturing to China, Taiwan and Mexico. Only a few engineers and sales people will remain. They are doing the same with Temp Flex in MA. Working for Molex was great while it lasted. But Koch is determined to show profit and if it can be made cheaper in another part of the world, then their most important asset - the people - doesn't matter.
Business is driven by this goal so you cannot say it's wrong. Unfortunately, for many of us, we're just collateral damage, just like the 500 in Shannon, Ireland, the 283 in Eau Claire, Wisconsin, those in Lincoln, NE and probably more to come as 2020 unfolds. The title of the book 'Good Profit' by Charles Koch should be changed to: 'Good Profit for Me, Not for You'. I loved the people and the challenges when things were good. Just few years ago, Molex made a record $1 Billion profit. They did not spread the profit equitably to all, but rather used the money to buy other businesses. They did this knowing that a correction in the market was overdue. Rather than proceed with caution and maintain their gain, they gambled. The result is that now it's time to pay the piper, and that means cut your losses. They paraded all these slogans like 'Integrity' and 'principled entrepreneurship' but did they ever really listen to what their core people said? Make no mistake about it, business is a dictatorship, not a democracy. Hey, maybe they will get around to blaming Trump! Will miss the people and daily routine. No job is safe at Molex right now. Very sad.
Originally posted by @3Pcxo+ZZWbJe1.