The problem isn't how good overseas talent is (I worked with Avanade developers from Poland and they are excellent, need zero ramp up time) but rather is our own management good enough to work with them if management can't even work with remote people in the same time zone.
Remember, Europe culture is very different. There are laws there and you can't "manage by crisis" when your team has multiple people in Europe. Basically, this forces management to actually do its job instead of relying on Venkat (who is on an H1B visa and can't fight back) to be unofficially on call 24/7.
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