Why Is Indian Stock Market Up Today? Sensex, Nifty Recover as TCS Shares Jump As IT Stock Rally; What Investors Should Know

The US suspended eight IT firms, including Microsoft, Tata, Infosys, Wipro, HCL, Cognizant, Capgemini, and Adobe, from a green card program for foreign workers. The suspension is due to alleged abuse of the system, with claims that these companies have taken jobs from American workers. The Department of Labour will not process new or pending applications from these companies.

The US suspended Infosys, Tata (TCS), Wipro, Microsoft, Adobe, and others from the PERM program, which allows green card applications for foreign workers. The suspension affects new and pending applications. The companies have requested nearly 3M foreign workers since 2009, with over 230K H-1B visas and 100K labor certifications approved.

The US suspended Microsoft, Adobe, and several Indian IT firms from a worker visa program, accusing them of abuse. Microsoft shares fell 1.3%, while Cognizant rose 5%. The administration aims to reduce reliance on foreign workers and prioritize US hiring. Microsoft defended its visa use, stating most filings were for current employees or those already in the US.

The US suspended major Indian IT firms (Cognizant, Infosys, TCS, Wipro, HCL, Capgemini) from the PERM Green Card program over alleged fraud and concerns about American job losses. The move could delay Green Card applications for thousands of Indian professionals. The US government also suspended Microsoft and Adobe from the program.

The US suspended Microsoft, Adobe, and other IT firms from a key green-card program, citing alleged abuse. Vice President Vance accused Microsoft of laying off US workers while hiring foreign labor. The suspension also covers Cognizant, Infosys, and others. Additionally, the administration is probing nine universities, including Harvard and Yale, for potential visa misuse. Microsoft and others deny wrongdoing.

The US suspended eight tech firms, including TCS, Infosys, and Microsoft, from the PERM green card program, citing anti-fraud concerns. This may delay green card applications for their employees, impacting Indian IT professionals' long-term US plans. The suspension does not cancel existing H-1B visas.