Big US companies hiring overseas, cutting back at home: report

Big American multinationals that employ a fifth of all U.S. workers are hiring overseas while cutting back at home, according to reported data.
News Desk April 19, 2011 10:20

Big American companies that employ a fifth of all U.S. workers are hiring overseas while cutting back at home, according to data from the U.S. Commerce Department.

Companies generally defend the trend by saying that productivity has increased in their U.S. factories, and that they are chasing sales abroad.

“We’ve globalized around markets, not cheap labor,â€