Which US Companies Are Offshoring?

Despite continued protectionist policies in the US, the slow and steady march toward globalization continues. Companies based in the US have resumed their long-term trend toward international expansion over the last 4 years:

Of course, not all companies have followed this steady trend. Qualcomm, for example, has transitioned their workforce from being 57% domestic in 2016 to 43% domestic in 2020:

Facebook, on the other hand, has transitioned their workforce from being 35% domestic in 2016 to 51% domestic in 2020:

Takeaways:

• The trend toward globalization marches on, despite recent policy efforts to protect US jobs from global economic forces.
• Some companies have been minimizing their international position. Based on the list above, it is notable to see manufacturers among them.
• Many of the companies expanding internationally maintain strong US dominance in their respective industries.

If you have any ideas of other metrics to track or would like to hear more, please feel free to reach out to us.