Deregulation in many countries in the late 20th century allowed large multinational banks like Citibank to emerge and for employers to offshore jobs abroad for greater efficiency. As economies grew, more businesses, consumers, and homebuyers took on debt until the financial crisis. Employers offshored even highly skilled managerial jobs overseas.

1. Welcome to
Human Resource Management
Deregulation
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2. In many countries, governments stripped away regulations.

3. In the United States, for instance, giant
multinational “financial supermarkets”
such as Citibank quickly emerged.

4. The search for greater efficiencies
prompts many employers to offshore
(export jobs to lower-cost locations
abroad). Many employers offshore even
highly skilled jobs such as sales managers,
general managers, and HR managers.

5. As economies boomed, more businesses and consumers went deeply into debt.
Homebuyers bought homes, often with little money down. Banks freely lent
money to developers to build more homes

6. Well…have you had experiences how easy to lend money from the banks?
Next, let’s try to understand how the nature of work changes in
globalization!