Yet another sign of a recession: In recent months, some companies have been eliminating international postings to cut costs. They have begun recalling expats from multi-year assignments up to 12 months early. Some of the hardest hit industries have been the financial and auto industries.

Up to two years ago, there was a war for talent and for global experience, but it's not like it used to be anymore. And upon return home, there aren't many jobs available for expats. Only half of those returning home are guaranteed any job, and the hardest are the married expats whose spouses had given up a job who now find they come home to nothing. One company has now been directed to nationalize former expat jobs and find recruits locally who have a similar background that an expat would typically have.

In the meantime, the prerequisites to become an expat are changing. It’s no longer enough to have the skills and experience. Companies are requiring expats to speak Mandarin, or to have lived overseas before or have been educated in some other place. They also prefer not having to pay more to get these kinds of expats.

According to expat program advisors, rollbacks could last anywhere from another eighteen months to three years. But when the economy improves, so will the overseas jobs.