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via finance.yahoo.comBusiness & Companies

Infosys sees no material impact from U.S. PERM suspension

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Infosys (NSE:INFY) said it does not expect a material impact from the U.S. government's suspension of its participation in the Permanent Labor Certification (PERM) program, a key route for employers to sponsor skilled foreign workers for U.S. permanent…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe PERM program suspension affects IT services firms' ability to recruit skilled foreign workers, but Infosys downplays material impact.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The U.S. government suspended the PERM program, a key route for sponsoring skilled foreign workers for permanent residency.
  2. 02The suspension affects Infosys, TCS, Wipro, HCL Technologies, Cognizant, and Microsoft among other technology firms.
  3. 03Infosys stated it does not expect material impact and offered to cooperate with the Department of Labor.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Infosys LimitedINFYStock10.73 USDMarket closedtoday +0.28%Negative Tata Consultancy Services LimitedTCS.NSEStock2,156.00 INRMarket closedtoday +3.85%Negative Wipro LimitedWITStock1.70 USDMarket closedtoday +2.10%Negative HCL Technologies LimitedHCLTECH.NSEStock1,216.70 INRMarket closedtoday +3.38%Negative Cognizant Technology Solutions CorporationCTSHStock59.20 USDMarket closedtoday -1.35%Negative Microsoft CorporationMSFTStock535.07 USDMarket closedtoday +2.38%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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