Remember that the American company is choosing to divert work where it best supports their goals. It could be due to maketing centers (Big disadvantage to sell US products in Europe unless you "appear" to be European). Economically, as the economy slows in America, inflation also slows and the US$ looses value (global value). The country getting the new work faces inflation and an increase in their currancy value. Eventually the trend slows and reverses. It's all economics and there are good and bad trade-offs of being on both sides.
I am an American working for an American company at a Canadian office. They do this to stay competative in world markets and as a marketing base for Asian clients. I can tell you that the Tech industry in Vancouver has lost about 25% of their workforce. I have laid off over 100 in the past year. It's tough all over!! I know that my frinds back in the states make considerably more than the guys up here for the same work. The guys up here really struggle to make ends meet, while the guys back home are quite well off. I know that without the guys here, the guys back home are in trouble because we would not be able to keep a competative margin against other companies. The Canadian media a few years back published story after story of Canadian firms re-locating to the USA for tax purposes, creating many jobs in the US. So, trends will come around again and again.
I feel bad for your friends who lost their jobs and I hope that you don't have to face that again. But, by the end of this month I will have to lay-off 40 more. All of them are excellent employees and some are very good friends....
Jimi