Are DE jobs moving?

Hi, I'm a senior analytics engineer - currently in Canada (but a US/Canada dual citizen, so looking at North America in general).

I'm noticing more and more that in both my company, and many of my peers' companies, data roles that were once located in the US are being moved to low-cost (of employment) regions. These are roles that were once US-based, and are now being reallocated to low cost regions.

My company's CEO has even quietly set a target of having a minimum of 35% of the jobs in each department located in a low-cost region of the world, and is aggressively pushing to move more and more positions to low cost regions through layoffs, restructuring, and natural turnover/attrition. I've heard from several peers that their companies seem to be quietly reallocating many of their positions, as well, and it's leaving me uncertain about the future of this industry in a high-cost region like North America.

The macro-economic research does still seem to suggest that technical data roles (like a DE or analytics engineer) are still stable and projected to stay in-demand in North America, but "from the ground" I'm only seeing reallocations to low-cost regions en mass.

Curious if anybody else is noticing this at their company, in their networks, on their feeds, etc.?

I'm considering the long term feasibility of staying in this profession as executives, boards, and PE owners just get greedier and greedier, so just wanting to see what others are observing in the market.

Edit: removed my quick off the cuff list of low cost countries because debating the definition and criteria for “low cost” wasn’t really the point lol