Are Canadian banks offshoring too many jobs? Or maybe its more than just banks.

Unfortunately, a lot of banks are offshoring work to third world countries.

For example, BMO / Air Miles recently had massive layoffs. Canadian employees were training team members in Ecuador (Or other South American country) who are now replacing them.

At Scotiabank, staff in the Dominican Republic were trained and ended up replacing the Canadian team.

These are two examples of people I personally know which work for these two banks. Canadians are training offshore teams and then getting laid off as a result. How is offshoring jobs like this sustainable for Canada? It must be happening to other industries but I have not seem much discussion of it.