A year ago, I have discussed the strategies of multinational EPCM companies to remain competitive. This practice is still going strong. It is now becoming a threat local jobs in the first world countries. In the book “On Career Transition” published by IEEE, George F. McClure stated reasons why this trend is happening. Lower labor costs and less stringent regulation make offshoring attractive to companies. The practice of offshoring is threatening local employments in the first world countries. More jobs are lost, unemployment is on the rise.
Offshoring, however, creates good opportunities for third world countries like the Philippines. Offshoring helps creates jobs in these countries.