What’s happening to corporate America? Was Free Trade an excuse to outsource Americas labour to cheaper countries such as India and China? Don’t get me wrong, I’m not bashing the expertise of people in other countries but how will America benefit from firing staff in America and giving the jobs to people in other countries? How will the economy sustain itself if people are not employed?
CEOs might say they can provide cheaper products and services using offshore labour. Sounds like a sweat shop doesn’t it? For example, the large hardware companies are now taking even more jobs offshore by selling a percentage of business units or simply staffing up offshore and firing local staff. Will a customer pay to have a team flown over from India to work on a project? How many off shore projects do you know of that were successful?
The result? large bonuses are paid out to executives, people are on the street and the US dollar at an all time low! Buying power of most is significantly reduced and most importantly, they cant afford to pay their mortgages and keep their homes.
So this leaves most with jobs at Whaal-maart and McDoonaldes or some other low income sweat shop with no future.