The economic slump has become so pronounced that even outsourcing is getting scaled back. Executives who once relied on outside firms to handle certain IT tasks to cut costs are now reining in some outsourcing plans on concern they're too expensive. Just ask Steve Budny, director of global outsourcing at Oceaneering, a supplier of equipment and engineering services used in the offshore oil and gas industry. While Oceaneering itself has not seen a massive demand slowdown, it's nonetheless taking preemptive measures to wring savings, Budny says. The Houston-based company has shelved certain IT projects and curtailed some outsourcing in India. "We haven't given up doing things over there, but we're doing things differently in the short term," he says.
Source: Business Week