))) Wiped out is maybe the wrong word - they are more heavily being off-shored right now.

Once the next year of grads come, it is a wipe-out, because you now have multiple years of graduates competing for the same one position. Also, you often dont want damaged goods -- better to hire the fresh grad from this year's batch than a grad from 1 or 2yrs ago who has been unemployed.

the market is brutal