The company I work for - a Fortune 500 company - is moving the Accounts Payable dept to India. My dept (tax) is all dreading having to deal with this. But the thing is, our AP people were way low on the payscale. I guess working your butt off for 30k a year for 15 years just isn’t good enough.
I think these rich companies should tell their shareholders that they’re going to be a little more patriotic and live with a lesser profit (lower share price), pay Americans to do the jobs, because in the end it’s better for every American. Of course then the money would run screaming to companies that don’t give a $hit about Americans having jobs...so this is why we are in the rotten spiral.
< sarc > You must be some kind of Communist < /sarc >
Sad. These AP persons can't realistically move to the sub-continent.
Management probably sees competitors doing the same, and want to grow earnings.
As an industry matures, any low skill task will be sent offshore.
As Americans, we are expected to innovate, milk it as long as possible, then repeat.
If it gets stale, it gets stolen.
The corporations survive by making a profit. If they switched to philanthropy and justice they will soon be driven into bankruptcy by their competition, both domestic and foreign. Keep in mind foreigners can make any product we make here and in most cases cheaper.
As you point out the shareholders can play a role. In 2008, after the 2007 crash the shareholders of Goldman Sachs were shocked to learn their 3 top executives all earned more than $65 million. Forty-three % voted for a Shareholder Advisory on Executive Compensation. While not a win, it was scary enough that in 2009 the CEO only earned a modest $25 million. I have not found his salary after that.
During that period when my GE shares fell from $50 to $5, I was also shocked to find that the top seven GE executives continued to be paid over $10 million each. I also signed my proxy to vote for a similar proposal. Stockholders, vote your shares even if you only have a few, pressure your University foundations, or unions to do the same since many have huge blocs of shares.
In 1983 during the Reagan Admin. both Democrats and Republicans voted to “save” Social Security by having a 90% wage cap for FICA deductions. That was the only year it was at 90% because while the increase in that figure was pegged to inflation, in the same period upper level wages started increasing by 10% to 20%. The wage cap has since been as low as 82%. Restoring it to a true 90% would save Social Security. Increasing it by 1/2% a year up to 95% would enable a fix of the other injustice wrought in 1983. That year, our bipartisan politicians also agreed that for the FIRST time SS recipients should also pay taxes on their benefits which they had already paid taxes on once before. An exemption of $25,000 for singles and $32,000 for couples was included in the calculating formula. (Where was Grover Norquist when that taxation travesty was approved?) That figure has not been changed in 32 years. If adjusted for inflation, those figures would now be around $59,000 and $75,000. No wonder the middle class is disappearing and many widows and widowers are “living in sin.”
So the bottom line is that the big money boys are perfectly willing to scrap jobs for Americans so long as they can continue to justify their obscene salaries and perks. Remember when the auto moguls flew to DC in their corporate jets to beg for a government bail out?