Vance says Trump administration suspends Microsoft and Adobe from PERM green card program
AI Market Summary
The U.S. administration is suspending Microsoft's access to the PERM employment-based green card program and halting processing for Adobe and major IT outsourcers amid fraud investigations. This raises operational and hiring risk for large tech employers reliant on skilled immigration, potentially pressuring labor costs, staffing flexibility, and growth execution. The breadth of targets and threat of criminal cases increases headline and regulatory uncertainty for the sector.
Impact level
● High
Affected assets
NCSKMSFT2USD/USDT-0.63%
AI Insight · NCSKMSFT2USD/USDTAI Insight
▼ Bearish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
U.S. Vice President JD Vance said the Trump administration is suspending Microsoft, Adobe and other firms from the Permanent Labor Certification (PERM) program, accusing them of abusing the visa system. Vance said Microsoft laid off 6,000 American workers last year while receiving 6,300 H1B visas and nearly 3,000 green cards. He claimed the company replaced each laid-off U.S. worker with 11⁄2 foreign workers and called the arrangement “scandalous.”
