Anecdotal "Offshoring" Stories?

So a cycle we seen in the software/tech world is firing US employees and then hiring employees offshore. However a lot of times this ends up backfiring due to the quality of work offshores. Do companies generally reverse on this or what is the normal trend?

I've been a part of 2 companies that have done this, and honestly it's been a split on those (and elsewhere) from what i've seen whether the company reverse course (IE: re-hires locally instead of offshoring) or just sticking with offshored employees.

I'm curious of those who have seen this cycle what you generally see as the outcome?