As a follow up to my last email, I would like to pass along the following news item:
The news that Sun Microsystems will lay off 3,000 employees worldwide as a result of the European Commission’s delay in approving its sale to Oracle is the latest economic tragedy of the EC’s competition policy.
It is exactly why Kroes’s competition policy has been under such fire from leaders across Europe – the policy is jeopardizing the employment and industrial strength of Europe and harming European and U.S. companies.
Just last month, the EC’s competition fining policy forced Slovakian chemical company Novácke Chemické Závody, an employer of 1800, into bankruptcy.
The EC’s competition policy is costing jobs when Europe’s unemployment is at its highest in more than 10 years and is expected to continue to rise. In fact, unemployment is expected to be one of the major obstacles of economic recovery in Europe and the U.S.
The upcoming appointment of a new Competition Commissioner presents the urgently needed opportunity to establish competition policy that punishes wrongdoers and dissuades future violations – without putting European and U.S. companies and employees out of work.
Here is a link to Reuters’ article on Sun’s layoffs: http://www.reuters.com/article/ousiv/idUSTRE59J5LA20091020
Thank you,
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