U.S. citizens could face an increase in job losses in the next decade as companies are planning to outsource a number of white collar jobs. It is expected that fortune five hundred companies could pocket around $58 billion in savings annually.
Due to this around 1.47 million back office jobs would be affected over a period of ten years. The areas in which the jobs would be outsourced are finance, information technology, procurement and human resources. It is expected that these jobs would be outsourced to countries such as Brazil, Philippines, China and India.
Companies would be able to save salaries to the tune of seventy percent through outsourcing when compared with shifting the jobs to low cost U.S destination where the savings is only around ten to twenty percent.
I believe that though companies stand to gain as a result of this but this should not be achieved at the cost of the employees.
