"It's not surprise then that as the economy crumbles, the Global
1000 are going to do everything they can to cut costs. Because,
with credit markets at a near stand still, cash is king and the
only place to get short term cash if no one is buying is through
savings. According to new research from The Hackett Group, part of
this savings is coming through labor arbitrage. Global 1000
companies are significantly accelerating their movement of back
office jobs to India and other low cost labor markets offshore.
""That's not something we hear all the time," said study author
and Hackett Group Senior Research Director, Eric Dorr. "Far from it
... we feel there is some serious belt tightening going on;
including the IT function.""