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Philippine outsourcing industry cuts revenue target by up to $10bn

Economic pillar hurt by Trump protectionism, Duterte tax changes and automation

The Philippine outsourcing industry is forecast to employ between 1.42 million and 1.57 million people over the next three years, down from an earlier prediction of 1.8 million.   © Reuters

MANILA -- The Philippines' outsourcing industry is seeing revenue targets for 2022 as much as $9.9 billion lower than initially projected, as it grapples with domestic tax issues and the rise of automation, which has undermined the nation's call centers.

The industry, which, along with the $29 billion worth of remittances from overseas workers, counts as one of the nation's two top economic pillars, has also been hurt by predictions of a looming global recession.

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