LayoffBlog.com

February 27, 2009

Indian Firms, Microsoft Top H-1B List

Indian outsourcers, along with Microsoft and Google, again lead the list of companies bringing foreign workers to the U.S. on the H-1B visa program.

According to U.S. Citizenship & Immigration Service (USCIS), Four India-based companies topped the list:

Infosys Technologies (INFY, India): 4,559 H-1B visas approved in 2008, 4,559 in 2007
Wipro (WIT, India): 2,678 H-1B visas approved in 2008; 2,567 in 2007
Satyam (SAY, India): 1,917 H-1B visas approved in 2008; 1,396 in 2007
Tata (TCS.BO, India): 1,539 H-1B visas approved in 2008; 797 in 2007
Microsoft (NASDAQ:MSFT): 1,018 H-1B visas approved in 2008; 959 in 2007
Google (NASDAQ:GOOG): 248 H-1B visas approved in 2008
Lehman Brothers: 130 H-1B visas approved in 2008

In fiscal year 2007, six of the top 10 visa recipients were based in India; two others among the top 10, Cognizant Technology Solutions (CTSH) and UST Global, are headquartered in the U.S. but have most of their operations in India, according to BusinessWeek

  • The H-1B program, which started in 1990, was set up to allow U.S. companies to import the best and brightest in technology, engineering, and other fields when such workers are in short supply domestically.
  • The H-1B visa program is currently capped at 65,000 per year, with another 20,000 set aside for advanced-degree graduates of U.S. universities.

USCIS will begin taking H-1B applications for the next fiscal year on April 1 and will distribute the new visas on Oct. 1.

Source: U.S. Citizenship & Immigration Service (USCIS)

January 5, 2009

The biggest CEO firings of 2008

The biggest names to be shown the door as a result of the economic crisis:

  • Martin Sullivan of American International Group (let go in June)
  • Kerry Killinger at Washington Mutual (September)
  • Richard Fuld of Lehman Brothers (leaving next month)

“Their distinguished company includes James Cayne of the now-deceased Bear Stearns and Richard Syron and Daniel Mudd, the former CEOs of the mortgage buyers Freddie Mac and Fannie Mae.”,  according to Forbes and MSNBC

“There are two kinds of CEO firings,” says Noel Tichy, a professor at the Ross School of Business at the University of Michigan. “There are the crooks and there are the incompetents.” This year the biggest departing names all fell into a gray area in between.”

Source: Forbes, MSNBC

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