Donald Trump put U.S. companies that want to move to Mexico on notice: You’re making an “expensive mistake.”
The president-elect slammed Rexnord Corporation’s decision to “viciously” fire 300 employees at its Indianapolis factory in order to move to Mexico.
Rexnord made the announcement just days after Trump had negotiated a deal to keep Carrier from firing 1,100 workers at its Indianapolis plant.
https://twitter.com/realDonaldTrump/status/804884532671430658?ref_src=twsrc%5Etfw
In a series of tweets, Trump warned companies that leave the United States that they will be slapped with a 35% border tax if they want to bring their products into the country.
Kyle Beaman, who has worked at Rexnord for 10 years, said he was shocked that Trump was looking out for such a small company.
“I figured we were small potatoes and we’d get lost in the storm,” Beaman told Fox News anchor Pete Hegseth.
Rexnord employees get paid between $20 to $30 an hour. By moving to Mexico, the company can slash wages to $3 to $5 an hour.
“It boils down to corporate greed,” Beaman said. “The wages down there in Monterrey would be $3 per hour.”
https://www.youtube.com/watch?v=bYirKTrkQng
To add insult to injury, Beaman will have to train his replacement in order to get his severance package.
But Beaman was hopeful that Trump will be able to save his job like he did for Carrier.
Meanwhile, the mayor of Indianapolis wants Rexnord to repay the tax breaks it got from the city now that it’s skipping town.
Breaking: The city of Indy @IndyMayorJoe seeking Rexnord repay $380,674 in property tax breaks after deciding to move jobs to Mexico @rtv6
— Rafael Sánchez (@RafaelOnTV) November 21, 2016
https://twitter.com/MWMastiff/status/805112780617498624?ref_src=twsrc%5Etfw
US Steel CEO wants to bring back 10,000 jobs now that Trump is president
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Samantha Chang is a senior staff writer for BizPac Review. She is a financial editor and lawyer based in New York City.
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