By | January 24, 2023

Layoff scare HR Trends POST A RESUME HR Consultancy Job Placement Agency

With around 2 lakh IT employees losing jobs within just three months in a massive layoff spree by top companies like Google, Microsoft, Facebook, and Amazon, Indian employees are scrambling for job options in the US within the time frame allowed by their work visas.

Thousands of Indian IT professionals in the US, who have lost their jobs due to the series of recent layoffs at companies like Google, Microsoft and Amazon, are now struggling to find new employment. In order to remain in the country, they are now battling to find new employment within the time frame allowed by their work visas.

Microsoft CEO Satya Nadella announced earlier this month that the tech giant would fire 10,000 employees, or approximately 5% of its entire workforce, calling it a difficult decision the tech giant had to make to remain a “consequential company” in the face of economic uncertainty throughout the world.

As the job-killing spree in the IT sector continues in 2023, Microsoft is the third company following Facebook and Amazon to announce job cuts.

The current era is one of “significant change,” according to Indian-origin Customers who increased their digital spending during the Covid-19 outbreak, according to Nadella, are now optimising it to accomplish more with fewer resources.

Since November 2022, approximately 200,000 IT employees have lost their jobs, including record numbers at firms like Google, Microsoft, Facebook, and Amazon.

Some industry insiders estimate that between 30 and 40% of them are Indian IT professionals, many of whom are in possession of H-1B and L1 visas.

A non-immigrant visa called the H-1B allows US businesses to hire foreign nationals for specialised jobs that need for theoretical or technical competence. It is essential to the hiring of tens of thousands of workers each year from nations like China and India by technology companies.

Temporary intracompany transferees in managerial or specialised jobs are eligible for L-1A and L-1B visas.

Many Indian IT professionals who are on non-immigrant work visas like the H-1B or L1 are currently looking for ways to stay in the US after losing their jobs and changing their visa status in order to find a new job within the allotted time of a few months under these foreign work visas.

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One Reply to “Layoff scare | Around 2,00,000 IT employees lose jobs, Indians scramble for job options in the US”

  1. Pingback: Episode #65 Expert Talk with CA Jitendra Dave on Budget 2023 : Analysis from Common Man's Perspective | POST A RESUME

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