Investing.com -- Infosys (NSE:INFY) said it does not expect a material impact from the U.S. government's suspension of its participation in the Permanent Labor Certification (PERM) program, a key route for employers to sponsor skilled foreign workers for U.S. permanent residency.
"We welcome the opportunity to work with the Department of Labor and related government agencies to answer any questions they may have," the Indian IT services company said in an exchange filing on Saturday.
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The U.S. government announced the suspension on Thursday, affecting several major technology and IT services firms, including Infosys, Tata Consultancy Services, Wipro, HCL Technologies, Cognizant, Microsoft, Adobe and Capgemini.
The affected companies will be unable to submit new PERM applications or have pending applications processed under the suspension.
The move forms part of the Trump administration's broader crackdown on skilled foreign labour. U.S. officials have alleged that some companies used the program to replace American workers with lower-cost foreign employees.
PERM is separate from the H-1B temporary work visa program, and the suspension does not appear to directly affect existing H-1B visa holders.
Original Article
Infosys sees no material impact from U.S. PERM suspension
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