Infosys said it does not expect a material business impact from the US suspension of permanent labor certification applications. The company highlighted its investment in local employees and technology hubs in the United States and offered to cooperate with the Labor Department. PERM is a step toward employment-based permanent residence for foreign workers. The statement sets out management’s assessment of the restriction’s effects.
Indian technology services company Infosys said it does not expect a material business impact from the US suspension of new and pending permanent labor certification applications. Its statement to stock exchanges on 10 October followed the Labor Department’s decision. Infosys said it was ready to work with the government agencies and answer their questions.[1], [2]
Infosys said it had invested in building a strong local workforce and technology and innovation hubs in the United States. It reiterated its commitment to employees, clients and communities and to complying with applicable laws and regulations. The expectation of no material impact is the management’s forward-looking assessment.[1]
The Permanent Labor Certification programme, known as PERM, is a stage through which skilled foreign workers can obtain employment-based permanent residence in the United States. The suspension covers eight technology companies, including Infosys. The US administration announced it as a measure to protect American jobs and address alleged abuses of employment programmes. Those explanations are the administration’s stated grounds for the action. The other covered companies were listed as Adobe, Microsoft, Tata Consultancy Services, Wipro, HCL Tech, Cognizant and Capgemini.[1]
