U.S. tech firms are moving more jobs overseas

Major U.S.-based multinational corporations eliminated 2.9 million domestic jobs between 2000 and 2010, but hired nearly the same number of people in overseas markets, according to the U.S. Commerce Department. The shift to hiring more employees outside the U.S. includes technology firms such as Cisco Systems, which has added about twice as many overseas workers as domestic ones in the past five years, and Oracle, which had nearly two-thirds of its workforce based outside the U.S. at the end of 2010.

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