Monday, December 8, 2008

Outsourcing: Not Just for Blue Collar America Anymore

White Collar America, welcome to where Blue Collar America has been living for years. From the WSJ:

At the Mumbai subsidiary of outsourcer Pangea3 LLC, rows of Indian lawyers at new computers pore over contracts, covenants and other financial documents. They're working for Wall Street banks fighting lawsuits filed in the U.S. by homeowners, investors and shareholders after the subprime-mortgage crunch.

As the ailing U.S. economy prompts companies to cut costs, it also has spawned legal problems. As a result, clients are pressuring the law firms they hire to trim fees.

That means more routine work like legal research, due diligence and document review is being done in India at roughly half the cost as in the U.S., outsourcers say.

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