Gee there's so many things wrong it's like the Sunday Buffet at the Pan Pacific. Basic problem is that it's a fad that has started to unwind quickly in the last yr+. The lie is that there's an unlimited supply of co-lies that are able to do the work that will never ask for raises as there's 1000 co-lies all trained and ready to replace the one like Oliver that asks for some more please. The reality is that co-lie land is a very corrupt backward place that doesn't provide basic education for every child, but has billions to develop nukes it doesn't need.
As reuter's recently reported Most of the uni's that the co-lies/media cite turning out 100,000's of whatever are really degree mills. The pool of talent is next to non existent as the country is backward so there's not 1,000's of advanced sites to draw talent. At best you get someone that has just taken a few courses and knows the basics. The co-lie sourcers have had to come out and admit they need developed world workers that have the experience. Of course they're just going to get pumped of whatever knowledge and dumped once it's been extracted. The government should put rules to disallow passing should tech transfers from occuring, that will save the US industry from a nation infamous for piracy and riping off western technology.
Add to the mix the currency that you pay the co-lies is going up so those double digit co-lie wage increase cut twice not to mention that most of the billing is in dollars so they have set the investors for a nice bruising worse then the old fashion borrow short but lend long that is killing the finance industry.
Lastly much of work is done in the developed world were most of the imported workers are commiting active visa fraud by under cutting mkt rates as that's the only reason they are getting hired is to drive down wages. So beyond the declining margins there is a massive liability of 50K per worker fine that would be easier then digging for clams to pick up that runs into the billions.