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It depends on how the outsourcing contract is set up. I don't think there'd be any change because it isn't a bankruptcy reorganization. The US is just buying stock in US companies (and diluting existing shareholders--but that's another topic for another thread). There's a company here in the Philippines called Advanced Contact Solutions that had to layoff hundreds of contact center employees for one account because that US company went bankrupt. If Citibank were to go under, tons of people the world over would lose jobs. You can't imagine the number of people hoping the best for US companies since their own lives depend on it.
Like the saying goes: When America sneezes, the rest of the world catches pneumonia. Maybe except China, it supplies the cold / flu medicine for the US :D
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