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Business

IT Outsourcing Threatens German Jobs

The increasing export of IT services abroad will jeopardize around 50,000 jobs in Germany by 2008, according to a study made public on Tuesday. The study by Deutsche Bank, software giant SAP and the College of Applied Sciences in Kaiserslautern said that job outsourcing would affect around 3.5 percent of the current 1.4 million jobs in the information technology sector and underlined that the trend will continue in coming years. It stressed, however, that valuable jobs with strategic importance would stay in the country. Jürgen Schaaf from Deutsche Bank Research said services worth €10 billion ($12.2 billion) in Germany were outsourced in 2003 and that the volume would rise to €17 billion in 2008. "The IT outsourcing market is booming," Schaaf said.