IBM announced that it is going to lay off 5,000 U.S. workers and shift many of those jobs to India.
Did you know that 71% of IBM’s 400,000 employees work outside of North America? That ups from 65% in 2007.
Getting computer nerd training was a sure-fire way to a successful technology career a few years ago. Today’s nerds are competing against similarly trained, English-speaking nerds in India.
Very few jobs in America are immune from cheap foreign competition. The next time you read any Reuters or Associated Press stories, check the byline and you will find that many of the personal finance and business stories you read were written by people across the ocean.
And it is why you should keep an eye on Indian technology outsource companies like Infosys (INFY: 61.77 0.00%).
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