“Don’t own a cafeteria: Let a food company do it,” he advised. “Don’t run
a print shop: Let a printing company do that… This is what outsourcing is all about,” he continued, blithely
concluding that the jobs simply “migrated elsewhere,” as if the careers of
thousands of Americans were birds seeking warmer climes.
Workers rarely fared so well at their new employers. Instead of having a job at GE, a stalwart of the Dow Jones Industrial Average and a reliably decent
employer, the workers were funneled to contractors that typically offered inferior pay, little benefits and little job security."
Jack Welch, CEO of GE –
(Source: The Man Who Broke Capitalism)