Wednesday, June 20, 2007

Wachovia to Outsource

Well we should have seen this coming to. Not the original announcement that Wachovia would be moving certain operations to St. Louis, but the fact that Wachovia will follow in the path of many Fortune 100/500 companies in its efforts to cut costs by moving portions of its operations out of the United States.

The trend of companies moving call centers and help desks by way of "outsourcing" continues well below the radar nowadays. It so common that it is almost not even news anymore. Thats sad.

It is a by-product of an inefficient corporate tax system that rewards companies for not employing Americans and hiring other nationalities on the cheap as cost cutting practices that benefit the bottom line in a competitive marketplace.

It is also the by-product of a global economy and trade policy that is completely unbalanced.

First Wachovia leaves Richmond, changes the big billboard and now evidently is taking its logo to the Phillipines as well. Surprised? The only surprise to me was it wasn't India.

No comments: