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Essay / Research Paper Abstract
10 pages in length. What do Morgan Stanley, General Motors, Dell, American Express, MetLife, J.P. Morgan Chase or Citigroup all have in common besides being United States-based companies? They, along with other prominent companies, have taken their collective production and customer service departments off American soil and planted them firmly within foreign countries where labor costs are a fraction of what they are back home. Just how many companies in Corporate America have jumped on this growing bandwagon is up for dispute, however. U.S. Labor Department statistics cited the loss of more than forty-six hundred jobs in the first quarter of 2004, but that figure only included large companies with more than fifty layoffs, a narrow consideration that completely ignores small companies. Bibliography lists 11 sources.
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File: LM1_TLCOutsourc.rtf
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other prominent companies, have taken their collective production and customer service departments off American soil and planted them firmly within foreign countries where labor costs are a fraction of what
they are back home. Just how many companies in Corporate America have jumped on this growing bandwagon is up for dispute, however. U.S. Labor Department statistics cited the
loss of more than forty-six hundred jobs in the first quarter of 2004, but that figure only included large companies with more than fifty layoffs. This narrow consideration completely
ignores small companies at a time when "growing numbers of venture-capital firms are insisting that the early-stage companies they invest in outsource computer programming and other tasks overseas to save
money" (Gumpert, 2004). As such, The National Association of Software & Service Companies places the figure at more like fifty thousand. "Few topics are as radioactive as
offshore outsourcing. In the current political climate, politicians, pundits, and angry laid-off workers are hunting for scapegoats for Americas largely jobless recovery. You cant find better targets than
China and India, both of whom undeniably are gaining from the sweeping restructuring of American technology, financial services, and telecom companies" (Engardio, 2003). II. OFFSHORE IMPACT
The growing trend of outsourcing (also called offshoring) IT services beyond United States borders is said to be putting the squeeze upon small businesses and American
workers alike. The extent to which countries like India and China are absorbing jobs from companies otherwise meant for Americans workers is both grand and far-reaching; that bottom line
costs are significantly reduced in conjunction with an ever-increasing presence of IT professional status available abroad speaks to the potential for tremendous economic infrastructure damage on the home front.
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