Mumbai, July 23: Tech layoffs have affected several employees across the world due to companies initiating restructuring, cost-cutting measures, and adopting automation. For some companies in the tech industry, the economy has not been in favour, forcing them to reduce their headcounts to meet expectations. Despite the United States offering a wide range of dream opportunities, many Indians have been affected by the tech layoffs in 2024. 

According to a report by ET Edge Insights, the U.S. offers people excellent infrastructure and the highest standard of living worldwide. The country attracted many skilled Indian workers who greatly contributed to the U.S. economy and company growth. However, the report said that these workers and professionals were struggling with unique challenges due to instability created by the recent tech layoffs in the U.S. Tech Hiring in India: US-Based Altimetrik Announces To Triple Hiring Engineering Team in India, Target USD 1 Billion Revenue; Check Details.

The report said that the strict U.S. immigration process posed a significant challenge to immigrants coming to the country for tech jobs. It said that the Indian immigrants coming to the U.S. on H-1B and L-1 visas were linked to their employers. Skilled Indian workers can only work in the U.S. under their employers' sponsorship. Otherwise, their visa would be useless and would not allow them to work or live in the country.

Increasing Tech Layoffs in the U.S. Putting Indian Skilled Workers at Risk

About 57,000 workers were reportedly affected by the tech layoff rounds this year. The companies like Google and Amazon were the major players in these job cuts. These tech giants suspended their U.S. green card applications over the claimed increased applications, difficulty in processing and restructuring in the tech sector. Due to this, the workers who expected to get permanent residency in the United States were affected, marking their visa cancellation countdown to 60 days. AI Job Hiring Surge: Artificial Intelligence and Machine Learning Job Roles Witness 433% Rise Since 2022, Says Study.

Due to the ongoing layoffs and Indian workers on H-1B and L-1 visas, they experience uncertainty in the future. The report mentioned that the EB-5 immigration programme could be an alternate way to secure the future in the United States. To obtain permanent residency under the EB-5 immigration programme, the immigrants can create 10 jobs for U.S. workers through their investment in businesses. The report highlighted that the minimum investment for this EB-5 programme was set to USD 8,00,000 for projects in rural and high-employment areas. 

(The above story first appeared on LatestLY on Jul 23, 2024 12:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).