INVESTMENT BANKERS ALSO EXPORTING JOBS

Posted on October 15, 2003 by Dave Pollard

First manufacturers, then high-tech companies, then service companies, and now brokerage firms and investment bankers are looking to export jobs to third-world countries. The NYT reports that JP Morgan, Lehman Brothers, Morgan Stanley, Merrill Lynch, Goldman Sachs, and Citigroup are “offshoring” (the latest euphanism) $150,000 research jobs and turning them into $35,000 jobs in Bombay. The sad thing is, these organizations, which grew and got rich on the backs of gullible American investors who bought their over-hyped “research recommendations”, see nothing immoral or traitorous about flinging more middle-class Americans into the ranks of the underemployed. Please seek alternatives — Pledge to Buy Local before buying from these companies, and think three times before accepting a job offer from one of them.

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1 Response to INVESTMENT BANKERS ALSO EXPORTING JOBS

Jim Moran says:

October 18, 2003 at 21:08

You can find more evidence of this if you read the Indian Press online, http://www.thehindubusinessline.com/ http://www.hindustantimes.com/ I’ve also seen it time and again in the About pages of Indian Outsourcing Company sites.