Offshoring Chops Away at U.S. Corporate Finance Jobs

Hackett estimates 543,000 finance jobs lost since 2000; sees another 381,000 disappearing by 2014.


U.S. job growth won't be getting much of a boost from hiring for finance and other administrative positions at big companies, according to a recent report by the Hackett Global, a strategic advisory firm. And while IT has seen the brunt of the job destruction resulting from offshoring and automation over the last 10 years, Hackett expects increasing pressure on finance jobs in coming years.

U.S. companies with annual revenues in excess of $1 billion have 2.8 million fewer full-time employees in the areas of finance, IT, HR and procurement than they did in 2000, the Hackett report says. It estimates such companies will lose another 1 million jobs in those areas by 2014.

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