Which brings up a hole in this story: It doesn’t tell us anything about outsourcing overseas. I’m guessing that the 2.9 million number the Journal uses is for actual corporate employees and that it doesn’t include suicidal Foxconn workers snapping iPhones together in China for Apple Incorporated. But the paper doesn’t say. If I’m right, the numbers are even worse, though it’s possible that would make that U.S. job cuts numbers look better by counting work outsourced here.

But there’s lots of stuff to chew on here. Including this about Oracle:

Oracle, which makes business hardware and software, added twice as many workers overseas over the past five years as in the U.S. At the beginning of the 2000s, it had more workers at home than abroad; at the end of 2010, 63% of its employees were overseas. The company says it still does 80% of its R&D in the U.S.

Larry Ellison might as well be that prototypical CEO I talked about a few paragraphs up. His compensation from 2000 to 2009 while he was shifting jobs abroad? A cool $1.8 billion.

Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.