All articles tagged with #us workforce
Tata Consultancy Services (TCS) CEO K. Krithivasan announced that the company will not be hiring new H-1B visa holders in the US, focusing instead on expanding its local workforce and renewing existing visas, signaling a shift in visa hiring strategies among major corporations.
The Trump administration's new $100,000 fee for H-1B visas aims to encourage companies to hire Americans instead of foreign workers, but experts predict mixed effects, including potential short-term gains for U.S. tech workers and long-term concerns about economic growth and job opportunities, especially for native-born Americans.
President Trump is expected to sign an executive order imposing a $100,000 fee on H-1B visa applications to curb program abuse, which could significantly impact industries relying on these visas, especially tech. The move reflects ongoing efforts to tighten immigration controls, despite Trump's previous support for the program.
The US crackdown on immigration under President Trump is leading to significant workforce shortages in key industries, causing economic concerns and fears among immigrant workers about deportation and loss of work permits, which could slow economic growth and increase costs across sectors like healthcare, construction, and agriculture.
Taiwan Semiconductor Manufacturing Company (TSMC) is facing a lawsuit from a group of U.S. employees alleging "anti-American" discrimination, claiming the company favors Taiwanese workers over American hires. The lawsuit, filed in California, accuses TSMC of discriminatory hiring practices and creating a work environment that disadvantages non-Mandarin speakers. TSMC, which is expanding its operations in Arizona with significant U.S. federal funding, has not yet responded to the allegations but maintains its commitment to diversity and equal employment opportunities.
Despite a slight increase in union membership last year, only 10% of the U.S. workforce belongs to a union, marking the lowest percentage in Labor Department records dating back to 1983. The growth in union membership was driven by younger workers, while public sentiment towards unions remains high. However, labor organizing faces challenges due to opposition and weaknesses in labor law, despite broad public support for unions.
Binance, the world's largest cryptocurrency exchange, has reportedly laid off dozens of employees amid increasing regulatory pressure. The company terminated employees last week, citing redundancy or providing no reason at all. Binance also plans to reduce its US-based workforce, with several top executives already departing. CEO Changpeng Zhao denies that the resignations are related to an ongoing investigation by the US Department of Justice (DOJ). Concerns about potential criminal charges and the CEO's refusal to step down have raised worries about the company's survival. Binance has faced scrutiny from the DOJ and the US Securities and Exchange Commission (SEC) for alleged violations of securities laws and misleading Congress.
KPMG, one of the largest accounting firms in the world, is set to cut 5% of its US workforce due to a slowdown in demand for its services. The job cuts will affect around 1,400 employees and come as the company looks to restructure its business in response to changing market conditions.
Deloitte is set to cut around 1,200 jobs in the US, or 1.4% of its workforce, due to a slowdown in the consulting business. The job cuts are less severe than those made by some of Deloitte's rivals in the professional services field, including KPMG, Accenture, Ernst & Young and McKinsey. The recruitment climate has soured some recent graduates who had aspired to careers in consulting.