6 senators say U.S. firms are hiding their offshoring

They introduce a bill that would require public companies to disclose their U.S. headcount

global network of employees
Thinkstock

Publicly traded companies are required by law to disclose only their global headcount, and that's all the information many of them provide. That keeps certain information a secret. These companies may be shrinking their U.S. headcount as they grow their overseas workforces. Six U.S. senators want to change that.

These senators -- all Democrats -- are co-sponsoring legislation, introduced Thursday, that would require publicly traded companies to disclose their numbers of employees by location, by state, and by country.

"It's hard to hold companies accountable for gaming the system and shipping jobs overseas when it's not even known where their employees are located," said Sen. Gary Peters (D-Mich.), in a statement. One of the key reasons this bill, called the Outsourcing Accountability Act, was introduced is because it is difficult to find information about the number of jobs that are moved offshore.

How to handle Windows 10 updates
Shop Tech Products at Amazon