To counter Trump, HCL Technologies to reduce hiring on H-1B visa, employ locally in the US

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HCL shares have not been affected by Trump being elected.

HCL

To counter President-elect Donald Trump’s likely move to curb or tighten hiring on H-1B visa, HCL Technologies, India’s fifth largest software company, is taking steps to reduce reliance on visas and carrying out a local recruitment program worldwide.

Asked about the possibility of a backlash against the IT industry in America after the debut of Trump-led government, HCL Technologies chief financial officer Anil Chanana told the Indian affiliate of CNBC about the company’s new strategy to keep their services going.

In the U.S., HCL Technologies hires about 16,000 staff and 65% are already American workers. With total of 110,000 employees and annual revenue of $6.6 billion, HCL along with its subsidiaries, operates in 32 countries around the world and is the third-largest business process outsourcing services provider in India. It offers services in technology, enterprise consulting, applications consulting and information technology-enabled and infrastructure businesses, reported Nikkei Asian Review.

In contrast, HCL’s Indian competitors have hired a lower percentage of Americans as part of their workforce in the U.S., with 50% of Wipro staff in the U.S. being locals and even lower percentages for TCS and Infosys, said Kuldeep Koul, senior research analyst at ICICI Securities in Mumbai.

“HCL Tech is the least impacted by the H1B visa issue,” said Koul.

HCL’s competitors rely more on the H-1B visa program, under which 65,000 temporary workers and an additional 20,000 employees with advanced degrees from American universities are allowed to work in the U.S. every year. About 86% of these visas issued to workers in computer-related occupations in 2014 went to Indians, according to IT magazine, Computerworld.

Nikkei reported since July, when Trump’s chances of being elected president started to rise, share prices of major Indian IT companies such as Tata Consultancy Services, Infosys and Wipro fell. HCL Technologies proved to be the exception. On Dec. 23, HCL shares closed at 798.40 rupees, up 1.85% from 783.85 rupees on Nov. 9 when Trump was elected.

 



  • Dexter

    Definition of crook, being able to follow the system? – USA elected a president who is a known Crook and has several forgery cases pending against. So lets keep that aside and see the facts.

    Look for prevailing wages for each role and level in California (Select a county and then role)

    http://www.flcdatacenter.com/OesWizardStep2.aspx?stateName=California

    And wages posted on LCA is bare minimum and not the salary of an employee. Employers post the lowest possible in the range and they can pay in the min-Max range as the employee negotiates.

    Below is the prevailing wage from Labor Dept, this gets refreshed every year. LCA wages are picked from here. Prevailing wages are not what one feel they need to get, but based on W2’s reported, Job postings and statistics from Employees.

    There is lots of misinformation going around, if the prevailing wages gets updated, salary will increase for H1B’s.

  • Dave_94302

    Taking a quick look at the recent LCAs shows that HCL are still crooks, but may have moved up from being “the Worst of the Worst”. Big deal. Paying $80k when the prevailing wage in Silicon Valley in $120k is still fraud. They are still a bunch of criminals.
    BTW, you aren’t one of those trolls hired by HCL to buff up their image, are you?

  • Dexter

    LCA is not determined by individual companies it is determined by US Labor Dept. They have set minimum wages for each role –

  • Dexter

    Well Im not going to say about 10 year ago version, with no links. – But here is the 2016 LCA data for HCL for Sunnyvale.

    http://h1bdata.info/index.php?em=HCL+AMERICA+INC&job=&city=SUNNYVALE&year=2016

  • Dave_94302

    Ten years ago, I asked the LCA database which H1-B application had the lowest pay rate. It was somebody called “HCL America”, who I had never heard of before. The thing that caught my eye was that they claimed that the “prevailing wage” for a Software Engineer in Sunnyvale, CA was $29,000/year.
    Meaning that they were planning to pay the imported worker that amount.

    That’s Fraud, my friend. Sorry that I don’t have the dataset handy, but it happened. You don’t forget stuff like that.

    HCL (Hydro-Chloric Acid?) is the worst of the worst.

  • Dexter

    BS .. share some proof.

  • UnitedStatesOfAmericunts

    But, but…I thought there weren’t any qualified American citizens, so why is HCL now saying they will employ locally in the US. Maybe they were lying to begin with??? Nah, it couldn’t be that simple…could it?

  • John80224

    Comedians are too often overlooked for their wisdom! Rather than sullying Flip Wilson by any way associating this crowd with him (not that he’s not spot on), I’ll go with:

    “Make the lie big, make it simple, keep saying it, and eventually they will believe it.” – Adolf Hitler

  • Dave Chapman

    Considering that HCL is the winner of the “Worst H1-B Fraud” trophy for many years, there is a certain credibility problem whenever they pay some media person to publish stuff like this.

    I would like to see the executives of HCL locked up in Guantanamo, along with the other enemies of the United States.

  • n6532l

    If they had done that someone like Trump would have been elected decades ago. To quote the great Flip Wilson “a lie is as good as the truth if you can get someone to believe it.”

  • John80224

    Interesting how every time the H-1B is threatened, these companies claim they are ready to hire the same population they claimed up until that moment was in too short of supply. Why can’t we just start from the truth that this is a wage arbitrage program?