Adobe Q3 Earnings Call Highlights

The U.S. Department of Labor suspended Microsoft, Adobe, and six IT firms from the PERM green card program, citing federal investigations. The suspension is indefinite, halting new and pending applications. Affected companies include Microsoft, Adobe, Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL Technologies, and Capgemini. The action does not impact existing H-1B visas or issued green cards.

Vice President JD Vance defended Trump's visa crackdown, citing Bernie Sanders' past opposition to open borders. The administration suspended Microsoft (MSFT), Adobe (ADBE), and others from the PERM program, alleging misuse of employment visa programs. Vance claimed Microsoft laid off 6,000 U.S. workers while retaining 6,300 H-1B visa holders. Sanders previously opposed open borders, citing potential wage depression for U.S. workers.

The U.S. Labor Department suspended Microsoft, Adobe, and six outsourcing firms from the green-card labor program due to federal investigations. No end date was given. The companies had requested nearly 3 million foreign workers since 2009, receiving over 230,000 H-1B visas and 100,000 labor certifications. The suspensions apply only to the named companies, with no wrongdoing announced.

India criticized the US suspension of the PERM green-card program for IT firms, including TCS, Wipro, Infosys, and Microsoft, calling it harmful to shared ambitions. The move affects thousands of Indian professionals. Microsoft stated 80% of its H-1B applications were for existing employees. India also objected to US Vice President Vance's remarks about foreign professionals.

Indian-American Congressman Shri Thanedar criticized the Trump administration's suspension of certain companies from the PERM program, which affects H-1B visa holders' Green Card applications. He warned the move could harm U.S. economic innovation. The affected companies include Cognizant, Infosys, Tata, Wipro, HCL, Capgemini, Microsoft, and Adobe. The MEA clarified the suspension does not invalidate existing H-1B visas but may impact permanent residency processes.

US restrictions on green card sponsorship for eight tech firms may push companies to move more tech work to India, but the impact on Indian IT firms is uncertain. The affected companies include Microsoft, Adobe, and Tata Consultancy Services. Analysts suggest this could shift tech operations to India, benefiting global capability centers, but immediate effects are unclear.