Slashdot Mirror

← Back to Stories (view on slashdot.org)

India Tech Giant Warns Trump's 'Radical Shift' to Hurt Industry (bloomberg.com)

Posted by msmash on from the 'radical-shift' dept.

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.

8 of 295 comments (clear)

  1. This is the best news I've heard all day! by HanzoSpam · · Score: 4, Insightful

    Good riddance!

    --

    Progressivism: Parasites helping parasites to help themselves - to other people's stuff.
  2. Good by Anonymous Coward · · Score: 4, Insightful

    Employment by foreign workers is a privilege, not an entitlement.

  3. Yaay!!! Go Trump! by JustNiz · · Score: 4, Insightful

    Finally, a president that actually demonstrates care about US workers, and also actually follows through on at least some of their campaign promises.

    1. Re:Yaay!!! Go Trump! by JustNiz · · Score: 4, Insightful

      >> Seriously does anyone believe anything Trump says?

      He said he was going to end H1B abuse. Given giant outsourcing companies like Tech Mahindra are sounding the alarm bells and directly blaming Trump after taking about a 33% hit on their net profits I can't see how you could make any rational argument that he's actually NOT following through on what he said he would.

      Also WTF does coal have to do with this? but I'll respond since you bought it up. here's a direct quote from HIllary Clinton during the March 13 CNN Town Hall:
      "....we're going to put a lot of coal miners and coal companies out of business, right?"

      BTW congratulations on choosing a clearly appropriate user name.

  4. Forgot the word HIS by scsirob · · Score: 4, Insightful

    The headline is incorrect. This Indian VP dude is afraid it will hurt HIS industry, not THE industry.

    --
    To Terminate, or not to Terminate, that's the question - SCSIROB
  5. ORLY? by SeaFox · · Score: 4, Insightful

    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.

    I'm sure they regret voting for him in the last election now.
    Oh wait...

    Why would these people assume a foreign president has their best interests at heart again? If they want to get angry about unemployment, it should be at the people actually responsible for their corner of the world.

  6. What kind of arrogance is this? by HangingChad · · Score: 5, Insightful

    That any country would act like they have a right to the US labor market? I don't think much of Trump but I agree with this move. When companies start replacing staff with H1-B visa holders, that's when it's gone too far.

    It's our country and, if we decide you can't come here, that's too damn bad. What really gripes me is the suggestion that anyone outside the US thinks they have a right to come here and work. Let me say this in all sincerity...fuck you.

    --
    That's our life, the big wheel of shit. - The Fat Man, Blue Tango Salvage
  7. Tech Mahindra by unixisc · · Score: 5, Insightful

    So Tech Mahindra has weak earnings, and it's Trump's fault? Just b'cos Tech Mahindra can't keep bringing in Indians in for every req they have. A recruiter I know told me that they have a policy of hiring only ethnic Indians (be they US or Indian citizens), and very rarely do they prefer Americans. The sooner they're driven out of the US market, the better.

    Congress should pass a special law banning Tech Mahindra from using any H1Bs, L1s or anything like that. It won't hurt the industry, just losers like Tech Mahindra, Syntel, et al