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1 month ago
Charlie Giancarlo, CEO of Pure Storage, has raised concerns about U.S. tax laws pushing companies to relocate their operations abroad. This comes as businesses strive to maintain competitiveness in the global market.
What Happened: Giancarlo highlighted in an interview that current U.S. tax policies are forcing companies to consider moving their operations overseas. He pointed out that while tariffs have offered some relief, they are not the ultimate solution, Barron’s reported on Monday.
"It's a set of different tax laws and labor laws and so forth that make manufacturing in the U.S. economically a competitive disadvantage," he said.
Pure Storage has adopted a global manufacturing approach, with significant operations in Southeast Asia, Europe, and the U.S., collaborating with outsourcing partners like Foxconn (OTC:
