The United States (US) President, Donald Trump has imposed a temporary ban on all the work visa programs and the issue of green cards until the end of 2020. Although it may have come as an initial shock for the IT industry, it may not have that much of an impact.
Infosys not likely to be impacted by the visa ban, says Infosys CEO Salil Parekh
Infosys CEO Salil Parekh said that they have a localization strategy in place to tackle any challenges that may be faced due to this temporary suspension. Infosys has planned to hire more local employees in the US. He also mentioned that Infosys has hired more than 10,000 US citizens in the last 24 months. Currently, around 60% of the company employees in the US are visa dependent.
This clarification was in response to shareholder’s questions at the company’s 39th Annual General Meeting (AGM) on Saturday. A total of 174 shareholders attended this meeting, which was held virtually for the first time.
Also, Infosys COO, UB Pravin Rao said that the H1-B visa ban will have a minimal impact on the IT industry. With the COVID-19 pandemic, companies have already shown resilience in altering their business models, as per the new normal. Having said that, he also mentioned that talent is important for tech recovery and one needs access to talent that is closer to home.
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The COVID-19 World
In these pandemic times, Infosys’s clients have shown interest in new areas that include cloud/digital, cost efficiency & automation, and consolidation, and they have already pivoted their resources to these new needs thereby strengthening their expertise.
Also, in the last few years, Infosys has made huge investments to make itself stronger and resilient, so that now it seems well-positioned to overcome this coronavirus pandemic.