Hanesbrands, the makers of Hanes underwear and Champion apparel, has just announced massive layoffs and factory closings. The company is cutting 8,100 employees in the U.S. and South America, while adding 2,000 positions in lower-cost Vietnam and China. The company is also closing down 9 of its factories and presumably relocating those to Asia as well.

Heartless suit Richard Noll (CEO of Hanesbrands) had this empathetic statement issued about the layoffs:

“Globalizing our supply chain, and eventually balancing production between Asia and the Western Hemisphere, is a critical plank in our strategic efforts to reduce costs, improve product flow and increase our competitiveness.”

Congratulations Richard! [ Yahoo Finance ]