Well, I'll say this for IBM - they are trying out an interesting marketing spin on offshoring:

In a letter to the Financial Times, IBM CEO Sam Palmisano says his multi-billion dollar investments in offshore production facilities are part of a campaign to transform the company from classic multinational (read: evil, exploitive, outdated, bad for world peace) into "a new actor" known as "the globally integrated enterprise." The GIE, says Palmisano, is a benevolent form of industrial organization that creates lasting wealth and meaningful jobs around the world. It can even disarm terrorists--figuratively, at least. Sounds like a corporation your mother could love, even if she's a raving anarchist. But is this really why IBM is spending $6 billion in India?

Read the rest - I don't know how well this will work, but it's proactive, at least. I still say they are hiring too fast in India, though.