For decades, outsourcing was happening to India and other east asian countries to cut costs. This happened even under low interest rate for loans.
Now that interests are higher the cost cutting and outsourcing only increase.
My own feelings are that we really should figure out if we want to work for such lowballers who cut us off like parasites at the first sign of trouble.
It would be prudent for workers to seek work in smaller, private companies. While they have the risk of going bust... they're hopefully not laying off people in the same breath as announcing record growth.