Forum Post: Offshoring is robbing our future

Corporations have been offshoring jobs in thousands, especially the banks, in order to increase profits. They exploit labor in India and Philippines whilst western economies get weaker. One job lost means that person can't pay their hairdresser, plumber etc so it has a multiple effect onlocal jobs. As the job is offshore, the westerm govts dont earn tax revenue..so loss to communities and govt, weaker western economies. Banks avoid potential criticism by referring to it as smartsourcing instead of offshoring. JPM has policies not toemploy US staff if the job can be done cheaper offshore. Shortsighted as when the economy suffers, their share price suffers and overall all lose!