| "General Electric's '70-70-70' plan signals the possible extent of these shifts: It plans to outsource 70 percent of its head count, push 70 percent of that outsourcing offshore and locate 70 percent of its workers in India." |
Newsweek |
August 2004 |
| "The number of Indian professionals in the IT sector is expected to triple to more than 2 million over the next five years, and Morgan Stanley's Mumbai research center predicts that multinationals will match new jobs in Indian subsidiaries with head-count reductions elsewhere." |
Newsweek |
August 2004 |
| In the first 32 months of a typical U.S. recovery, wages rose 10 percent; this time, wages have risen just 2 percent." |
Newsweek |
August 2004 |
| " In the U.S. recession that ended in June 2001, half the job cuts were 'structural,' meaning permanently eliminated, compared to an average of 25 percent in previous recessions, according to the U.S. Federal Reserve. In other words, laid-off workers are much less likely to be rehired by their old companies and have to find new jobs or turn to self-employment. Data from the U.S. Bureau of Labor Statistics show that more than half of the jobs created since the end of the recession are part time, that tenured workers are still losing their jobs at record rates and those that find new ones are taking 57 percent pay cuts on average. |
Newsweek |
August 2004 |
| The topic of offshore outsourcing enlisted the strongest responses, said W. Ladd Bodem, Principal, ServiceXRG. 24% of customers indicated that they will stop doing business with a vendor if they outsource support offshore, regardless of the quality of support. It is not clear that they would actually stop doing business with a vendor, but it is clear that this is an emotional issue and one that must be factored into any outsourcing strategy. |
Service Excellence Research Group, LLC |
August 2004 |
| "The brouhaha over the loss of service jobs, which currently account for over 80 percent of private-sector employment in the United States, is not merely an American phenomenon. Service jobs are at risk in all developed countries. In the U.K., where some claim that as many as 50,000 jobs moved offshore in 2003, the issue is just as prevalent and just as contentious. Countries like Germany and Sweden are feeling political tremors as well." |
Harvard Business School |
August 2004 |
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