Schrute Bucks, you'll recall, were the dubious currency created by Dwight Schrute on last season's final episode of "The Office," when he was briefly promoted from his position of assistant to the regional manager of Dunder Mifflin to regional manager. Along with other bright ideas like painting his office black to intimidate subordinates, he came up with Schrute Bucks as an incentive for his minions. They stood to get an additional five minutes for lunch if they accumulated 1,000 of the pseudo bills.
They came up when T and I were reading the New York Times yesterday morning and came across a couple of stories touching on the weakness of the dollar and what it means. The one that addressed the issue directly was the Op-Ed by Stephen S. Roach , the chairman of Morgan Stanley Asia. His view was dire enough, but the real eye-opener was the front page story Outsourcing Works, So India Is Exporting Jobs. It was about how India is outsourcing jobs that it received from the U.S., among other places, to less developed parts of the U.S., among other places. One reason is the weakness of the dollar.
Wipro, another Indian technology services company, has outsourcing offices in Canada, China, Portugal, Romania and Saudi Arabia, among other locations.That's when T turned to me and said, "It looks as if the dollar is the new Schrute Buck." She had a point. The way things are going, soon we'll all be working for Schrute Bucks. Could be worse -- everyone can use an extra five minutes for lunch.
And last month, Wipro said it was opening a software development center in Atlanta that would hire 500 programmers in three years.
In a poetic reflection of outsourcing’s new face, Wipro’s chairman, Azim Premji, told Wall Street analysts this year that he was considering hubs in Idaho and Virginia, in addition to Georgia, to take advantage of American “states which are less developed.” (India’s per capita income is less than $1,000 a year.)
For its part, Infosys is building a whole archipelago of back offices — in Mexico, the Czech Republic, Thailand and China, as well as low-cost regions of the United States.