Big U.S. Corporations Moving Jobs out of United States

Thursday, April 21, 2011
American Big Business increasingly gave up on hiring U.S. workers last decade, opting instead to expand hiring in foreign countries where labor is cheaper and regulations fewer in number.
 
A review by The Wall Street Journal of data from the Department of Commerce found that large U.S. corporations cut their domestic workforce by 2.9 million while increasing overseas employment by 2.4 million during the 2000s.
 
During the 1990s, on the other hand, companies hired 4.4 million American workers and 2.7 million foreign employees.
 
Total employment for U.S. multinational corporations in 2009 was 21.1 million in the United States and 10.3 million in other countries.
 
Corporations that led the way in off-shoring American jobs included Caterpillar, whose overseas workforce grew 39% (15,900 employees) from 2005-2010. During this time period, the heavy-equipment manufacturer added only 3,400 Americans to its payroll.
 
General Electric now employs more people abroad than at home (54%-46%).
 
Oracle, maker of computer hardware and software, added twice as many foreign workers from 2005-2010. As a result, 63% of all Oracle employees were in other countries by the end of last decade. Microsoft, on the other hand, added more jobs domestically than overseas between 2005 and 2010.
-Noel Brinkerhoff
 
Big U.S. Firms Shift Hiring Abroad (by David Wessel, Wall Street Journal)

Comments

Trekmovers 3 months ago
When it comes to corporate expatriates, the cost isn t in jobs so much as it is lost tax revenue. But there s also a loss of business bragging rights for the United States. Here are 10 major companies that have moved their headquarters offshore.
john d newberry 7 years ago
the united states was fine until nafta and safta was passed without looking at how it would effect us. ross paroe tried to warn the people and congress but no one listened. if our goverment was looking out for the american people they should have known our american companies could not compete on world market with labor rates like we have. so now as a result 18 years later our companies have moved over seas,our middle class is being reduced. we are headed to becoming another third world country unless our goverment changes the way they do bussiness.
Bigbird 8 years ago
riya, you're sounding like tim geithner; if we are allowed to raise our debt ceiling, then we won't max out our credit limit and can continue to pay social programs (on paper) where in reality he's saying that if you cut into our plan of destroying the american economy while making record profits, we will crash the economy and blame the repugnantcans! on paper, we allllll should be making less; from entertainers and sports figures, to company ceo's and wall street executives, but 1) that's not going to happen, and as long as the purchasing power continues to sink, and the fed (as well as their partners in crime, the congress) refuses to quit printing money, then you can pay "us" less all you want, but (and this is the tricky part) unless we get a true socialist leader (as opposed to the past few fascists), we will not be fed as wages decrease and col goes through the roof...but then again, maybe that's all a part of the plan!!
Lance 8 years ago
riay - excellent idea! perhaps we could convince us wage workers to work for free, and then there would be no unemployment at all in this country! we republicans love thinking like that! keep up the good work.
Riya Farheen 8 years ago
the unemployment rate of us workers would increase if big businesses cuts job of domestic us workers and hire overseas workers. if only us workers would lower their rate of wages only then they will be able to stay employed. it is time that they start thinking of lowering their wages. http://seasonalstaff.org/tax-benefits-for-employers-hiring-j1-foreign-staff.html

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