<p>A CONGRESSIONAL supporter of the country’s booming business-process outsourcing (BPO) industry has predicted that the emerging No. 1 US bank, JPMorgan Chase and Co., would soon aggressively offshore more back- office jobs to the Philippines.<br /><br />“We do not see any significant fallout from the recent collapse of a number of US banks, or their absorption by larger rivals,” said Catanduanes Rep. Joseph Santiago, chairman of the House information and communications technology committee.<br /><br />“When American firms slash costs due to mergers or an economic slowdown, the first to go tend to be high-paying US-based jobs. They hardly bother to reexamine toward scaling down their low-cost outsourcing activities here, at least not on the basis of cost,” he said.<br /><br />US financial institutions, along with telecommunication, Internet, direct broadcast and cable-TV providers, are among the biggest clients of Philippine BPO firms.</p>
<p>A CONGRESSIONAL supporter of the country’s booming business-process outsourcing (BPO) industry has predicted that the emerging No. 1 US bank, JPMorgan Chase and Co., would soon aggressively offshore more back- office jobs to the Philippines.<br /><br />“We do not see any significant fallout from the recent collapse of a number of US banks, or their absorption by larger rivals,” said Catanduanes Rep. Joseph Santiago, chairman of the House information and communications technology committee.<br /><br />“When American firms slash costs due to mergers or an economic slowdown, the first to go tend to be high-paying US-based jobs. They hardly bother to reexamine toward scaling down their low-cost outsourcing activities here, at least not on the basis of cost,” he said.<br /><br />US financial institutions, along with telecommunication, Internet, direct broadcast and cable-TV providers, are among the biggest clients of Philippine BPO firms.</p>
