US suspends Microsoft and Adobe from green card program — CNBC

The U.S. government suspended Microsoft (MSFT) from the H-1B visa program due to alleged misuse, following criticism from Vice President JD Vance. MSFT is modestly undervalued by 10.3% with an intrinsic value of $591.09, and has a GF Score of 99/100. Insiders have net sold $112.6M in shares over the past year.

The U.S. Labor Department has suspended Microsoft (MSFT) and Adobe (ADBE) from a key visa program, impacting their hiring and retention strategies. Consultancies like Wipro are more affected due to their reliance on this program, leading to potential profitability concerns. The suspension may lead to higher replacement costs and less stable project teams, particularly for consulting businesses.

The Trump administration has indefinitely barred Microsoft and other tech companies from seeking permanent residency for foreign workers under the PERM program, accusing them of misusing the system to replace American workers. According to Vice President JD Vance, Microsoft laid off 6,000 U.S. workers while hiring 6,300 non-citizens on H-1B visas. The Labor Department also suspended Adobe and several IT outsourcing firms from the program. Microsoft has not yet responded to the allegations.

The U.S. is suspending Microsoft, Adobe, and other IT firms from a green card program for skilled foreign workers, citing fraud. The companies cannot submit new or pending labor certification applications. The move affects H-1B visa usage, with tech firms being major participants. The administration is also investigating universities over international student programs.

Microsoft is suspended from the PERM green card program, accused by VP Vance of H-1B abuse. The Labor Department alleges fraud in labor certification. Microsoft shares traded around $529.70, unchanged post-announcement.

Vice President JD Vance announced Microsoft's suspension from a green card program, citing alleged fraud. The Trump administration claims Microsoft laid off 6,000 U.S. workers while using 6,300 H-1B visas and 3,000 green cards. Other IT firms and universities are also affected. The Labor Department is investigating J-1 visa fraud.