I think the simple answer is that if ABT cuts these jobs where many are even from overseas, it allows Abbott to restructure the company in such a way that is now a stronger focus in high skilled and higher level work created within America. Greater number of higher earning jobs available in America is the direction that Obama wishes to see America move towards in an effort to maintain a commanding position in not only today's market, but the market of 10, 50, and even 100 years from today. Personally, I applaud this move by Abbott from an investors point of view, but also expect this to transition into company growth and a healthier America and world.
Is this good for America? Well, let's just say, "What is good for the goose is good for the gander." So the real question to ask here is: who is the goose and who is the gander?
I think this one is a Buy and a even a Strong Buy soon.
Corporation's main concern is the bottom line. That's why corporate profits have sored, yet we have had a jobless recovery. Gov. Romney did the same thing when he was at Bain Capital. Profitability came first. I find it naive for Romney to think that corporations are going to hire more American workers when he himself followed the exact strategy of cutting and outsourcing American jobs.