There have been enough of these stories over the years that literally the only item of interest is likely to be the author's bio: Max Colchester is a U.K. bank

There have been enough of these stories over the years that literally the only item of interest is likely to be the author's bio: Max Colchester is a U.K. banking correspondent for the WSJ in London. Previously WSJ correspondent in Paris covering fashion, nuclear energy and politics. He is @MaximColch on Twitter. So the main thing is, the author - because of his background - likely has no idea that this is a recurring theme over decades, that the world nevertheless hasn't run out of COBOL programmers, and that it's an IT job companies today are as likely to outsource to the lowest bidder as any other job (whether that's a good idea or not).