Call it the effect of United States President Donald Trump or new visa bill proposed by US Congress, the bad impact is clearly looming large over Indian IT industry.
Bowing to the new regulations for H1-B visa, India’s tech giant Infosys has decided not to apply any sort of work visas for junior employees who possess less than 4 years of experience – I.e particularly of level-3 (Systems Engineer and Senior Systems Engineer). Rather, they would look to deploy new staff for onsite jobs or get H1-B for senior employees.
Other worrying factor which led to this development is huge raise in minimum wage for H1-B visa holder – I.e USD130,000. Other players like TCS, Accenture, Wipro, Capgemini et al would now work on bringing up some prerequisites for H1-B visa within the company.
Not just Infosys, every other domestic company in India is suffering this massive crisis now. If similar conditions persist for longer time, there is a chance that most of the companies would lay off 2-3percent of workforce.
On other hand, leading IT firm Cognizant is expected to fire around 6000 employees as part of this year’s appraisal.