Cost-cutting: Beleaguered companies see it as the only sure action in an uncertain world. They think that if they cut costs beyond the bone, surely profits will seep from the wound.
During times of economic turmoil, when the pressure to cut costs is most intense, many companies turn to offshore outsourcing. They see it is a quick way to reduce IT and other back-office expenses.
Under financial strain, however, companies-even those that are experienced with offshore outsourcing-make knee-jerk decisions, and in their haste, they fail to consider provisions in outsourcing contracts that would protect their staff, give them more control over the staff the outsourcing company allocates to their projects, or safeguard their intellectual property. The outsourcing deals they ink end up doing much more harm to their bottom lines than good.
Read complete article at IDG News
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