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via businessinsider.comPolitics

US suspends permanent visa residency program for Microsoft and Adobe

FROM THE WIRE · BUSINESSINSIDER.COM

"If you do the math, for every worker that Microsoft laid off, they replaced that worker with one and a half foreign indentured servants," Vance said.

Read at the source ↗
MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishVisa suspension for tech firms creates uncertainty over operating costs and talent availability in the sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Vance criticizes Microsoft for replacing each laid-off worker with 1.5 foreign workers.
  2. 02Suspension of permanent residency program directly impacts major tech companies.
  3. 03The measure reflects stricter US policy on skilled worker immigration.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Microsoft CorporationMSFTStock522.55 USD-1.31%today -1.36%Negative Adobe Inc.ADBEStock236.51 USD+1.26%today +1.61%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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