Nasscom says immigration and talent mobility not linked after US suspends tech majors from green card programme
The US suspended several tech companies, including Microsoft, Adobe, and Indian firms like Infosys and Tata, from the Permanent Labour Certification (PERM) program. Nasscom stated immigration and talent mobility are distinct issues. Microsoft noted affected filings involve employees already in the US. The US government alleges abuse of the H-1B program, aiming to prioritize American workers.
How this was made
The 30-second read
Why it matters
Regulatory action creates immediate hiring uncertainty for affected firms, likely pressuring their share prices.
Market read
First‑report regulatory suspension affecting major U.S. and ADR‑listed tech firms.
What to watch
Companies may shift to alternative visa categories or increase domestic hiring, mitigating long‑term effects.
Background
The U.S. Department of Labour temporarily halted PERM applications for several large IT outsourcing firms amid investigations.
Ticker impact
Microsoft was suspended from the PERM programme, a new regulatory action affecting its hiring.
likely downside as market prices in the restriction
First report of suspension; investors may view it as a hiring risk.
Adobe was also suspended from the PERM programme, a fresh regulatory development.
likely pressure on the stock
New regulatory action creates uncertainty for talent pipeline.
Infosys, a major Indian IT exporter, was listed among firms suspended from PERM applications.
potential downside as market assesses hiring risk
First disclosure of suspension; market may react negatively.
Cognizant was named in the U.S. Department of Labour’s suspension of PERM filings.
likely pressure on the share price
New regulatory news creates hiring uncertainty.
Wipro was included in the list of IT firms suspended from the PERM programme.
likely downside as investors price in the restriction
First report of suspension; market may react negatively.
Market effects
U.S. tech and IT services hiring landscape faces tighter regulatory scrutiny.
Potential ripple effects on Indian IT stocks listed in the U.S. and on U.S. tech hiring costs.
Highlights broader U.S. immigration policy tightening, affecting global talent flows.
Counterpoint
If the suspension is short‑term, the impact may be muted and stocks could rebound.
Key entities
- RegulatorU.S. Department of Labour
Issued the suspension of PERM applications.
- Industry AssociationNasscom
Commented on the separation of immigration and talent mobility.
