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India Tech Giant Warns Trump's 'Radical Shift' to Hurt Industry (bloomberg.com)
The vice chairman at Tech Mahindra, one of India's largest technology services companies warned that U.S. President Donald Trump's visa policies will damage the industry as his company reported weak earnings and his stock fell the most in almost two years. From a report: Tech Mahindra said net income was 5.9 billion rupees ($91 million) in the fourth quarter, compared with the average analyst estimate of 7.8 billion, according to estimates compiled by Bloomberg. The U.S. is tightening the criteria for visa programs that Tech Mahindra and other outsourcing companies use to bring skilled foreign workers into the country. Trump and other politicians have criticized the programs for hurting American workers and allowing companies to use cheaper employees from abroad. Tech services companies, including Cognizant Technology Solutions, have been cutting positions in India. Some workers have blamed Trump for prompting the job losses and exacerbating problems in the industry.
Prior to the visa changes there was a significant economic incentive to fire local IT workers and replace them with significantly lower paid immigrant workers. That incentive is now gone. This will save jobs.
As for the CAFE standards, they are being abused now. Truck don't count. So now many luxury cars are trucks and suvs... But for some reason we do not export a lot of trucks...
The lying meme plutocrats use to get even plutoier.
Table-ized A.I.