Dive Brief:
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Indian IT companies are speeding up U.S. acquisitions and recruiting more heavily on college campuses amid concern of increased protectionist moves in a Trump administration, Reuters reports.
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The companies are concerned about new restrictions on H-1B visas. President-elect Donald Trump has criticized the program, which allows non-residents to fill skilled worker positions in the U.S.
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The program has allowed companies to fill in-demand positions with IT professionals at a lower cost.
Dive Insight:
This move comes as little surprise. Trump railed against the H-1B program during his presidential campaign, and trimming the program has an obvious impact on Indian companies that fill U.S. IT needs with lower-cost labor.
India also is facing a one-two punch: Reuters notes that the Brexit vote in Great Britain caused British insurance companies and banks to cut back on contract spending until the implications of the vote became clear.
Trump has promised he'll address what he calls work visa abuse within his first 100 days as president. "I will end forever the use of the H-1B as a cheap labor program, and institute an absolute requirement to hire American workers first for every visa and immigration program. No exceptions," he said in March.
