Offshoring by US companies surges: Survey

WASHINGTON: US companies are increasingly turning to off shoring their functions to achieve cost savings, and few plan to bring those jobs back to
IT
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the United States, the Conference Board said Monday.

The number of US companies with a corporate off shoring strategy in place more than doubled in the past three years, according to the fifth annual report on off shoring trends, published by Duke University in collaboration with the Conference Board.

Of the companies surveyed, 53 per cent had a corporate off shoring strategy in place, up from 22 per cent in 2005, said the Conference Board, a nonprofit business research organization.

"Sixty per cent of companies that had already offshore say they have aggressive plans to expand existing activities, and very few plan to relocate activities back to the United States," it said.