Citibank outsourcing work

Got notice from Manager that software engineer jobs in USA are being reduced and the work being moved to India. I will have to interview for remaining spots in January.
Was this the intent of the rate hikes? Force jobs overseas? 😂
Do you think they anticipated company pivots like this permanently damaging the USA economy and it was factored in to their decision? $SPDR S&P 500 ETF(SPY.US)$ $Invesco QQQ Trust(QQQ.US)$ $Citigroup(C.US)$