In class we talked some about outsourcing, and how the merchants are the ones who want it, and the workers are opposed to it. Merchants are in favor of outsourcing, because labor costs are cheaper overseas than in the states, thus allowing the owners of a company to get more out of the money they have to spend. For example if an owner of a company moves its jobs overseas, they can hire more workers and produce more goods; therefore, making more money for the same amount as if they had not outsourced their jobs overseas. On the other hand, the workers of a company or firm are against outsourcing jobs. If more and more jobs get outsourced, than usually it means the same amount of employees at home will be out of work. The worker may find it hard to get another job, and in the meantime they have to find a way to pay the bills and take care of the family. Outsourcing not only can cause a problem with that individual worker, but it can also pose a threat to the entire economy as a whole.
One company that has decided to start outsourcing more and more jobs overseas is Wells Fargo. They want to reduce their costs, as well as be able to help their clients more quickly and efficiently. They have clients that are from all over the world; Wells Fargo wants to be able to better accommodate their customers, and they believe this is the way to do it. However, outsourcing labor will ultimately cause many jobs to be lost in the United States. Wells Fargo has not yet disclosed how many jobs will be cut, but either way it no doubt has many employees fearful of just who will be let go.
So is outsourcing jobs a good thing or not? I believe there is no right or wrong answer here, it really depends on what view point someone looks at it; from the merchants and the country being outsourced to, its a good thing. For the workers, and usually the economy of the country losing its jobs, outsourcing is bad. Outsourcing for a customer can be good or bad, and possibly both. It seems it would prove hard to be either right or wrong when answering the question of, whether outsourcing is good or bad.
http://www.bizjournals.com/sanfrancisco/blog/2012/06/wells-fargo-outsourcing-jobs-overseas.html?page=all
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The outsourcing case has 2 sides to the coin, if the workers loose their jobs because they have been outsourced then the shareholders make money, but if the jobs remain in the country then the shareholder will loose money or not make as much money. But outsourcing can be a good thing if there isn't enough workers around or if simply there is not any profit being made because labour is too expensive.
ReplyDeleteI can see where outsourcing could be good if a particular country has employees who are strong in the particular trade. This gives companies the ability to obtain skilled labor at a cheaper cost than what it would be in the US and if already having trouble obtaining this kind of skilled labor than it would definitely be a benefit.
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ReplyDeleteThis post id good. And the outsourcing is the best for the country that have employees in a particular trade.Employees if lose the job then again get the job that is very difficult for the job seekers. That post is best for those who are the seeker of the jobs.
Nice post! Philippines is one of the best in terms of outsourcing! We all know that there are lots of BPOs in the Philippines and that's big advantage to Filipinos because they can have job opportunity.
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