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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.
Good riddance!
Progressivism: Parasites helping parasites to help themselves - to other people's stuff.
American companies with incompetent contractors any longer?
Employment by foreign workers is a privilege, not an entitlement.
Finally, a president that actually demonstrates care about US workers, and also actually follows through on at least some of their campaign promises.
I despise Trump with a passion, but I can't argue with this one.
The visa program has served no purpose other than to cause North American wages for tech workers to stagnate because companies could simply bring someone over for cheap. There have been more than plenty of stories of companies inventing positions that exactly matched the resumes of offshore works *just* so they couldn't be filled by local people.
There has *never* been a shortage of qualified talent in the west. At least, there hadn't been. There may well be so now, since the shenanigans North American companies have been playing have driven candidates right out of the field.
A study after the dot com bust predicated that the IT industry will have a shortage of 1M skilled workers in 2030 from baby boomers retiring and foreign workers going home. Nature is taking care of the baby boomers. Trump is getting rid of foreign workers. Now is a good time to be in IT.
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
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.
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
We have to use them as our first choice for contractors at work. EVERY SINGLE one they have sent us - we sent back within two weeks because they didn't know the technology, don't know how to code their way out of a paper bag. Can't write code that even compiles! Their people are just cr@p! THAT is why they are losing money! I bet NO ONE wants their resources because they suck! I can get Americans RIGHT out of college that are FAR superior than their folks that supposedly have 5-7 years experience!
I hope they lose enough money they go OUT OF BUSINESS!!!
The Truth is a Virus!!!
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