Cognizant CFO: AI Pressures IT Spending, but BFSI Growth Stays Strong

U.S. President Trump suspended several Indian IT companies, including Cognizant, Infosys, Tata, Wipro, and HCL, from a labor certification program, citing job displacement. The U.S. is India's major market, with a $58.4B goods trade deficit in 2025. Trump aims to reduce this imbalance, pressuring India to open protected sectors. Indian Finance Minister Sitharaman acknowledged the trade talks' challenges.

The US government suspended eight tech companies, including Tata Consultancy Services, Infosys, Wipro, HCLTech, Cognizant, Microsoft, Adobe, and Capgemini, from the PERM Green Card program. The move aims to address alleged misuse of foreign-worker programs. Existing H-1B visas remain valid, but the suspension may delay permanent residency for affected employees. Companies report limited PERM applications, suggesting a potential minimal impact on their operations.

The US suspended Microsoft, Adobe, and major IT firms from a green-card program, citing alleged abuse. Vice President Vance accused Microsoft of laying off US workers while hiring foreign labor. The Labor Department also opened probes into top universities like Harvard and Yale over visa misuse. Microsoft denied wrongdoing, stating it pays H-1B employees equally. The crackdown may impact tech firms' hiring and universities' research funding.

The US suspended green card processing for Microsoft, Adobe, Infosys, TCS, Wipro, HCLTech, Cognizant, and Capgemini amid investigations into alleged H-1B visa program misuse. This affects workers' permanent residency prospects and companies' talent retention strategies, potentially reshaping hiring and offshore delivery models.

The US Labor Department suspended Microsoft (MSFT) and Adobe (ADBE) from the PERM green card program, citing federal investigations. Six IT outsourcing firms were also suspended due to criminal probes. Microsoft stated most of its H-1B filings were for existing employees. The suspension's duration is unspecified.

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.