Abstract
The extent of job loss has ensured a high level of interest in the corporate strategies of large firms in the UK. This study examines the employment record of a sample of leading UK-based multinational enterprises over the period 1977–81. In contrast with multinational enterprises from other nations, the UK companies were unique in combining significant domestic employment reduction with considerable overseas employment creation. While the pattern of employment change did not support the hypothesis of a direct substitutability of overseas for domestic production and employment it was consistent with a decline in the locational advantage of the UK.
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