News: Drop in H1B Visas for Indian firms

Outsourcing

Drop in H1B Visas for Indian firms

For the top seven Indian companies, collectively, the approved H1B visa applications has dropped by 37% for the year 2016, as compared to the previous year. The drop is also because of the fewer petitions filed by the companies the last year.
Drop in H1B Visas for Indian firms

Amidst the hullabaloo being made by the Trump administration, the recent report by National Foundation for American Policy (NFAP) stated that the 9,356 new H1B petitions approved in the FY 2016 for the top seven Indian-based companies represent only 0.006% of the US labor force.

According to the statement released by NFAP, “While the threat of job loss has long been exaggerated by critics, it reaches illogical proportions when discussing fewer than 10,000 workers in an economy that employs 160 million workers nationwide.”

The drop in approvals is also because of the fewer number of applications being filed by the employers. In the report, it was also stated that the drop in H1B petitions filed was primarily because of industry trends shifting towards digital services such as cloud computing and artificial intelligence which require fewer workers. Also, considering that the data which reflects the initial employment in FY 2016, the petitions were actually filed in April 2016, and hence are not influenced by the Donald Trump’s election. For that matter, because of the low unemployment rates in many industries in the US, it predicts rising demand for skilled professionals in the future.

According to a news report, the top companies with newly approved H1B applications in 2016: 

Cognizant                                3,949
Infosys                                     2,376 
TCS                                           2,040
Accenture                                1,889
IBM                                           1,608
Wipro                                       1,474
Amazon                                   1,416
Tech Mahindra                       1,228 
CapGemini                              1,164
Microsoft                                 1,145
HCL America                           1,041 
Intel                                          1,030
Deloitte                                     985
Google                                       924
Larsen & Toubro                     870
PricewaterhouseCoopers      713 
Ernst & Young                          649
Apple                                         631
Syntel                                        583
Facebook                                  472
Oracle                                       427
Cisco                                         380
Mindtree                                  327
Goldman Sachs                       287
UST Global                               283
JPMorganChase                      271
IGATE                                        255
Stanford                                   221
Yahoo!                                      206
KPMG                                       198

Topics: Outsourcing, Talent Acquisition, C-Suite

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