Financial Times FT.com

Large savings might come at a high price

By Andrew Taylor

Published: January 23 2006 02:00 | Last updated: January 23 2006 02:00

During the 2004 presidential campaign, John Kerry, the Democratic candidate, referred to US companies that shifted white-collar jobs overseas as "Benedict Arnolds" in a reference to the traitor of the American Revolution.

Job losses as a result of offshoring were a "major issue in recent referendums of the European constitution as well as the 2004 US presidential campaign", according to McKinsey, the management consultants.

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