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A term that basically describes the many loss of IT jobs. Back in the [good ol' days], manpower was required to get work done. These days, you just need a bunch of Indians (From India) who follow a scripted [business model], and offer, or at least what they consider, a "service". The large volume of third-world [competition] has not only decimated industry-level wages by about 40%, but has also eliminated thousands of previously existing jobs. Simply put, if you are considering a career in IT, stay away! All of us who are now in IT are wishing we had chosen a different career path as we do not know if there will be a career for us in the long-term.
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