It's Time To Boycott Overseas Outsourcers
Isn't it about time to start boycotting the corporations that are outsourcing IT jobs to India? As the U.S. economy continues to tank, IT outsourcing to India is reaching an all-time high. You can thank Wall Street and corporate America for that.
Giant outsourcer Infosys Technologies has just reported that business grew 35 percent to $4.1 billion during its last fiscal year. And sales are expected to grow another 20 percent to $5 billion by next March. Profit rose 36 percent to $1.2 billion. And Infosys also added another 19,000 employees last year. This is not surprising. The U.S. is the largest market for Indian outsourcers.
Who are Infosys' customers? It's Web site touts the "Global 2000" with a special emphasis on banking, financial and telecom firms. These are, of course, the elite Wall Street corporations, and they seem hell-bent on doing whatever they can to bolster their profits by tossing American workers over the side. This appalling situation -- which none of the U.S. presidential candidates except John Edwards ever addressed, by the way -- will worsen as the economy weakens and outsourcing deals for next year are finalized.
There is a lot of hand-wringing among financial and political pundits who constantly whine that we are mere victims who must accommodate to a new global economy (or "flat world" in Infosys-speak). This is utter nonsense, but a fine excuse to shroud the greed and stupidity of multi-national U.S.-based corporations that are reaping the financial benefits of so-called free trade and U.S. government ineptitude. One way to resist this is to simply boycott any company that utilizes off-shore service providers like Infosys, Wipro and Tata Consultancy Services. (The next time your service call gets routed to India, just end your relationship with the company, as I did last year with J.P. Morgan Chase's credit card operation.)
Here's the good news: Forrester Research reported earlier this year that some big corporations are experiencing a drop in customer satisfaction and a slide in profits from offshore outsouring as the Indian rupee appreciates against the weak U.S. dollar. My sympathies. Let's help that trend along by punishing the U.S. companies who are punishing U.S. high-tech workers.