Just days after president-elect Donald Trump revealed a deal with Carrier to keep some 800 Indiana jobs from moving south of border, the company’s top executive praised Mexican workforce no only as cheap but also as reliable.
Gregory Hayes, the CEO of Carrier’s parent company United Technologies, told CNBC in an interview that Mexico has a “much higher” competitive advantage in manufacturing over the U.S.
“So, what’s good about Mexico? We have a very talented workforce in Mexico,” Hayes told CNBC’s Jim Cramer (minute 10:18 in the video). “Wages are obviously significantly lower. About 80% lower, on average. But absenteeism runs about 1%. Turnover runs about 2%. Very, very dedicated workforce”. “Versus America?” Cramer asked. “Much higher,” Hayes replied.
Carrier will receive $7 million in tax breaks to keep jobs in Indiana, according to The Wall Street Journal.
You can watch the whoe interview here: