ETN Economic News Agency reported on the 9th that the Trump administration accused Microsoft (US.MSFT), Adobe (US.ADBE), and approximately six other companies of abusing the U.S. labor visa system, announcing on Thursday (8th) an indefinite suspension of these companies' participation in the Permanent Labor Certification (PERM) program, prohibiting them from using this process to apply for green cards for their foreign employees holding H-1B visas.
During a briefing announcing the above measures, Vice President Vance specifically criticized Microsoft, stating: 'No company in America has abused this system more severely than Microsoft.' He urged Microsoft to hire more local American workers, saying, 'Stop cheating Americans, stop bringing in contract labor to do work that Americans are fully willing to do.'
Microsoft responded by saying it looks forward to providing the Trump administration with further information regarding the H-1B visa program, emphasizing that 'Microsoft only files H-1B applications for individuals who meet the strict criteria of this visa category.' Microsoft's stock price fell in response, closing at $522.61, down 1.35%. (yc)
During a briefing announcing the above measures, Vice President Vance specifically criticized Microsoft, stating: 'No company in America has abused this system more severely than Microsoft.' He urged Microsoft to hire more local American workers, saying, 'Stop cheating Americans, stop bringing in contract labor to do work that Americans are fully willing to do.'
Microsoft responded by saying it looks forward to providing the Trump administration with further information regarding the H-1B visa program, emphasizing that 'Microsoft only files H-1B applications for individuals who meet the strict criteria of this visa category.' Microsoft's stock price fell in response, closing at $522.61, down 1.35%. (yc)
