Although offshoring has existed in a variety of forms for decades, its controversy continues unabated. The debate includes whether offshoring actually saves money or not, what activities are and are not good candidates for offshoring, and most controversial of all, its effect on employment in the consuming countries. This Executive Report discusses the offshoring phenomena in an historical context, investigates whether offshoring has actually resulted in IT-related job losses, and examines its effect on IT-related occupations in the US and Europe.