Sallie Mae Brings Back 2,000 offshore outsourced jobs back to the U.S.

This is a piece of good news:

Sallie Mae said Monday that it will bring 2,000 jobs to the U.S. within the next 18 months as it shifts call center and other operations from overseas.

Sallie Mae even acknowledges that Americans need those jobs.

For all looking, they are in Reston, Virginia and these positions are call center, I.T. and I.T. support type jobs.

Now will Sallie Mae also make sure to hire Americans and give preference to them for jobs in their own country? Foreign guest workers are another method to wage arbitrage Americans with the jobs officially not leaving American shores.

If only other companies follow Sallie Mae's lead.

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About damn time, now how

About damn time, now how about those other financial companies?


Oh they signed multi-billion offshore outsourcing contracts as soon as they imploded. Citigroup signed over a $2 billion while receiving taxpayer money.

BoA is busy forcing Americans to train their replacements before being fired right now.

We are focused on "too big to fail", but how about "too immoral to succeed"?

I heard

I guess they're going to give first choice to a bunch of the people they've laid off over the last couple of years. And, the openings are not just in Reston, they're all over the country.

Although, I think this has something to do with Obama's budget plan, where the federal government would stop giving loans through Sallie Mae. Sallie Mae wants to make that as politically unpopular as possible.

if you have a reference on Obama doing anything

to put pressure on them to bring back the jobs, i.e. a credible source, I hope you will post it in an Instapopulist.

Right now we have TARP recipients offshore outsourcing as fast as they can and IBM is lobbying heavily for Stimulus contracts...

all the while firing Americans as fast as possible and offshore outsourcing jobs.

I find IBM particularly evil because they lie to state and federal officials, get massive subsidies and tax breaks to create jobs in a particular state or in the U.S. and they never do...

yet magically the states do not demand all of that money back (and they should!).

I have to write it up but last reference I have is Obama defending the modification of the OPT program, which allows foreigners to take U.S. jobs in STEM, plus issued a "support" statement for foreign guest worker Visa increases to deal with our "skilled labor shortage" (cough, cough).


The only "real" source I can find is this.

From the first paragraph:

Student loan company Sallie Mae (SLM.N) plans to move its overseas operations back to the United States, creating 2,000 domestic jobs, in what analysts called an attempt to curry favor with the Obama administration.

Sallie Mae is really over a barrel, if the government stops subsidizing their loan origination. An overwhelming majority of their business comes from those types of loans. They don't really have any assets, other than their relationship with the government. They can't stay in business without it. They're not too big to fail, so they really don't have any leverage, other than the jobs.


We'll see. So far indications are that "outsourcing is good for America", Harvard group think, Larry Summers wouldn't do a thing or would most of his "economic" adviser team.

GE just the other day came out and said the US has "screwed up" by not supporting advanced engineering, innovation...
that's a huge change by the MNC who started it all with global labor arbitrage as a strategy.

It's like "duh", hello, you offshore outsource these high value jobs, industries, perhaps instead you will collapse your economy.

They all have religious group think somewhere.

I'll believe it when I sees it...

I've read of a number of companies over the past few years who claim to be bringing, or claim to have already brought, jobs back from overseas.

The problem is that it remains difficult to verify. Remember all those jobs Dell claimed they were bringing back???

another blog post suggestion

research out IBM or "pick a company". IBM to me is the worst of the worst, promising to "create jobs" in order to get massive tax subsidies by local, state, federal governments....then of course offshore outsourcing as fast as they can.

They need to be taken to task. All of those displaced workers plain funded to do a startup company to directly compete against IBM. They suck so badly.

But to write up a well cited, referenced post on any of this would be dynamite.

I can't cover all of the topics, not enough hours in the day so if anyone else wants to get ambitious....

Hey, IBM has created lots of

Hey, IBM has created lots of jobs...especially for auctioneers. When was the last time you paid full price for office furniture? Thank IBM (and the rest) for that! Isn't living in America all IBM, Wal-mart, automation...robotics=cheap, cheap, cheap!;-)

C'mon Fannie Mae, Freddie Mac and GSA

Fannie Mae, Freddie Mac and GSA in Virginia should start laying of their guest foreign workers and start being Patriotic for a change. Hire unemployed Americans that bailed you out.