McCormick Got Rich Outsourcing Jobs to China and India while Laying Off Pennsylvanians, Increased Investments in China by 108,000% at Bridgewater
PENNSYLVANIA — Today in Pittsburgh, local leaders held a press conference outside of David McCormick’s campaign event to slam his record of outsourcing jobs while laying off workers in Pennsylvania and investing in China.
“David McCormick’s record of investing and managing billions with China is disqualifying for Pennsylvania,” said Mitch Kates, Pennsylvania Democratic Party Executive Director. “He increased investments in China by 108,000% while leading a Connecticut hedge fund and attacked provisions that encourage the use of materials manufactured in the U.S. Pennsylvanians deserve leaders that will put them first.”
Here’s David McCormick’s Full Record of Outsourcing American Jobs and Investing in China:
- David McCormick cut hundreds of jobs, costing taxpayers millions of dollars.
- McCormick laid off and outsourced more than 400 jobs as CEO of Bridgewater using taxpayer-funded subsidies.
- David McCormick got rich by outsourcing jobs to China and India while laying off workers in Pennsylvania.
- As CEO of Freemarkets, McCormick laid off 50 workers in Pittsburgh – just weeks before announcing 100 new jobs in New Delhi.
- As CEO of Freemarkets, McCormick opened a new office in China.
- McCormick increased investments in China by 108,000% as CEO of Bridgewater, including companies blacklisted by the U.S. government.
- McCormick increased investments in China from $1.6 million to over $1.77 billion in less than five years.
- McCormick invested in blacklisted Chinese companies with ties to human rights violations and the Chinese military.
- David McCormick has a long record of supporting and enabling outsourcing.
- McCormick said “I don’t really care” if Pennsylvania jobs are shipped overseas during a closed door campaign event.
- McCormick taught other companies how to outsource jobs.
- McCormick admitted to – and even bragged about – his record of shipping jobs overseas.
- McCormick invested up to $92 million in companies that outsourced American jobs — over 2,600 of which were in Pennsylvania.
- David McCormick has opposed initiatives aimed at keeping manufacturing jobs in America.
- McCormick said his first priority if elected Senator of Pennsylvania would be to repeal the bipartisan infrastructure law, killing thousands of good-paying jobs in Pennsylvania that the law is projected to create for years to come.
- McCormick criticized “Buy American” provisions.
- McCormick refused to support Trump’s tariffs on China.
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