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Outsourcing of IT, Finance Jobs Expected to Maintain Pace

Outsourcing of IT, Finance Jobs Expected to Maintain Pace

A recently released study suggests the rate at which IT, business services and finance jobs are outsourced to countries like India and China will remain near its current pace for the next four years, InformationWeek reports.

The study, which was released by the Hackett Group, found that approximately 750,000 positions in finance, IT and other business services will be offshored from the U.S. and Western Europe from now until 2016.

"In the U.S. and Europe, offshoring of business services and the rapid transformation of shared services into Global Business Services have had a significant negative impact on the jobs outlook for nearly a decade," Hackett Group chief research officer Michel Janssen said in a statement. "That trend is going to hit us hard in the short term."

The study adds that by 2016, a total of 2.3 million business services jobs will have been offshored since the trend began during the 1990s, InformationWeek reported.

The Huffington Post reports a number of states recently proposed legislation that would punish American companies for outsourcing call center jobs overseas.