Yahoo and Dell are among the US companies who are doing this.
Profit shifting and tax deferral are quite a thing. They allow the American companies who otherwise would be paying corporate tax to avoid $90 billion that they would have to pay to the Treasury each year. That’s 10% of this trillion dollar budget.
These companies are not using the tax break to go and hire Americans overseas. It is simply like a giant IRA, a scheme so that the company can sell in America (take advantage of America), but not have to pay anything to support its defense, the interest on the debt, the infrastructure, and social spending. The true “takers”.