Overseas Job Shift Affects Office Market

[mhr]

http://www.nytimes.com/2003/10/08/business/08prop.html

Overseas Job Shift Affects Office Market
By TERRY PRISTIN
October 8, 2003
NY Times

Operating out of a 200-square-foot, three-employee office in Times Square, Chris Graham tries to persuade companies to take their cue from Wall Street firms like Morgan Stanley and J. P. Morgan Chase and farm out some of their research needs to a developing country where educated employees usually earn a fraction of what Americans are paid.

"Our delivery team," Mr. Graham, the director of business development for Irevna North America, which describes itself as a research services outsourcing company, recently wrote one potential client, "is based in Madras, India, and is comprised of finance M.B.A.'s and C.P.A.'s with deep finance, accounting and analytical skills."

Snip ......

And the trend is accelerating, according to many analysts. Forrester Research, a technology research company in Cambridge, Mass., predicts that by 2017, 3.3 million back-office jobs in the United States will migrate to other countries, including China and Russia. Gartner, a research company in Stamford, Conn., describing offshore outsourcing as "an irreversible megatrend," said recently that as many as 500,000 information technology jobs might disappear from this country by the end of 2004. Of the people whose jobs are moved, the study said, fewer than 40 percent will find other work with their current employers.

[Maine-i-acs]

1. Irreversible trend my ass.

Our all-powerful Cabal could stop this if they wanted to.

They can carpet-bomb two countries and occupy them, slaughtering uncountable brown people in the process, but they can't stop the hemorrhage of good-paying jobs? BS.

The corporate whores that put B*sh into office are getting their payback. Enjoy your gilded retirements, you twisted morons, cause the starving masses are gonna storm your gated compounds once the food runs out.

[mhr]

2. Hear, Hear - The Unemployed Have Little Left To Lose

And you never know, skewered conservative might taste mighty good with a little A-1.

[Tyler Durden]

3. After WE collapse, THEY'LL collapse.

This is a house of cards being built on a paper boat on a lake before the storm.

After we have consumed our own economy, where will the market be for all of those outsourced services overseas? The big collapse will be global.