Global Headhunters Scout Out Hot Indian Job Market

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=c659b4cb47724e18&cat=c08dd24cec417021

Global Headhunters Scout Out Hot Indian Job Market
Mon Oct 4, 2004 02:59 PM ET


By Narayanan Madhavan
BANGALORE (Reuters) - Global head-hunters are seeking partners and acquisitions in India, where a sizzling job market is creating tens of thousands of jobs a year.

The boom in outsourcing of back-office and customer service work to India, along with growth in the retail and consumer goods sectors, has generated a need for huge numbers of trained workers, often at short notice.

more...
More competition for labor the Labor costs will go up....then it won't be cheap anymore....

[mhr]

1. "$ 210 bn. jobs will be outsourced to India in 2005"

http://www.hinduonnet.com/thehindu/holnus/002200410031288.htm

The Hindu

New Delhi, Oct. 3. (UNI): Top 100 global financial companies will offshore jobs worth over $ 200 bn. to India and other countries in 2005, says a new research by Deloitte and Touche.

"Financial institutions are moving business functions to India because they are recognising compelling cost advantages and they are able to lock in savings and manage risks effectively," Peter Lowes, US leader of Deloitte's Outsourcing Practice, said.

In 2005, Deloitte expects the top 100 global financial companies to offshore a total of $ 210 billion of their operating costs, saving on average $ 700 million.

The survey, covering 43 financial services companies around the world, suggests that the number of firms taking the offshore option increased by 38 per cent last year.

Deloitte also estimated that by 2010, 20 per cent of the operating costs of global financial institutions would be centred abroad, reducing costs by about 37 per cent.

Snip ......

[Robert Oak]

2. this sickens me, anybody but an American

It's like suddenly being in aparthid but it's in your own country
and these corporations will hire anybody except "you". Anybody
but an American...coming from American corporations.

[carnie_sf]

3. There are no "American Corporations"

This just proves that there is no such thing as an American corporation. There is America, and there are corporations. This trend will not be stopped by legislation. The only solution I can see is the power of the purse. Each of us needs to take responsibility for the way we spend our money. A good way to start is to commit to buying union made products. For example, a google search on union made clothes turns up 1500 hits.

[w4rma]

4. Yeah right. That isn't going ot work. Not until things get *extremely* bad

And the only way to stop things from getting *extremely* bad is through legislation.