Infosys Says U.S. PERM Suspension Will Have No Material Impact

Investing.com··USIN·Read original
2▲0 ▼4Impact / 5
Summary · why it matters

Infosys said it does not expect a material impact from the U.S. government's suspension of its participation in the Permanent Labor Certification program, a key route for employers to sponsor skilled foreign workers for U.S. permanent residency. The Indian IT services company said in an exchange filing on Saturday that it welcomes the opportunity to work with the Department of Labor and related government agencies to answer any questions they may have. The U.S. government announced the suspension on Thursday, affecting several major technology and IT services firms, including Infosys, Tata Consultancy Services, Wipro, HCL Technologies, Cognizant, Microsoft, Adobe and Capgemini. The affected companies will be unable to submit new PERM applications or have pending applications processed under the suspension. The move forms part of the Trump administration's broader crackdown on skilled foreign labour, with U.S. officials alleging that some companies used the program to replace American workers with lower-cost foreign employees. PERM is separate from the H-1B temporary work visa program, and the suspension does not appear to directly affect existing H-1B visa holders.

Impact on assets 6

Artificial Intelligence▼
Adobe Inc.
ADBE
▼ NegativeRegulationrelevance

Adobe is among the firms affected by the U.S. suspension of PERM applications, blocking a key permanent-residency sponsorship route.

Microsoft Corporation
MSFT
▼ NegativeRegulationrelevance

Microsoft is listed among the major tech firms affected by the U.S. government's suspension of PERM participation.

Information Technology▼
Capgemini SE
CAP
▼ NegativeRegulationrelevance

Capgemini is named among the affected firms that can no longer submit or process new PERM applications.

Off-coverage companies 2

Tata Consultancy Services Limitedi
Private▼ NegativeRegulationrelevance

TCS is among the firms affected by the U.S. suspension of PERM applications, blocking a key route to sponsor foreign workers for permanent residency.

HCLTechi
Private▼ NegativeRegulationrelevance

HCLTech is among the IT services firms affected by the U.S. PERM suspension, blocking new permanent-residency sponsorship filings.