Executive Briefings

Bill Would Compel American Companies to Disclose How Many People They Employ Outside U.S.

A House bill would require that U.S. public companies disclose the number of workers they employ in the U.S., and the number that work overseas.

The intent of this legislation is to discourage offshoring, said U.S. Rep. Gary Peters (D-Mich.), who introduced it.

Publicly traded companies are currently required to disclose total employment in annual reports filed with the U.S. Securities and Exchange Commission. Peters's bill would require that companies break out the employment figures by country and state in the reports.

"We need to do everything in our power to fight the outsourcing of American jobs and this bill gives consumers and investors the information they need to make an informed choice," said Peters in a statement.

The bill is co-sponsored by Reps. Tim Bishop (D-NY), and Rep. Jerry McNerney (R-Calif.)

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A House bill would require that U.S. public companies disclose the number of workers they employ in the U.S., and the number that work overseas.

The intent of this legislation is to discourage offshoring, said U.S. Rep. Gary Peters (D-Mich.), who introduced it.

Publicly traded companies are currently required to disclose total employment in annual reports filed with the U.S. Securities and Exchange Commission. Peters's bill would require that companies break out the employment figures by country and state in the reports.

"We need to do everything in our power to fight the outsourcing of American jobs and this bill gives consumers and investors the information they need to make an informed choice," said Peters in a statement.

The bill is co-sponsored by Reps. Tim Bishop (D-NY), and Rep. Jerry McNerney (R-Calif.)

Read Full Article