Google CEO Sundar Pichai, Apple CEO Tim Cook, and Twitter condemned the move . "Visa reform makes sense," said Tesla CEO Elon Musk, "but this is too broad."
American companies from all industries have increasingly used the H-1B visa, one of several that have been suspended, to recruit from overseas for specialist jobs, including from India and China. Previously, there was a 65,000-cap on H-1B visas a year, with 20,000 extra visas for foreign professionals who graduate with a master's degree or doctorate from an American university. In 2019, 188,100 new and initial H-1B visas were issued.
"We need to start training our people better and until [we do] we will always have a shortage and be dependent on the political environment at the time," said Paul Melchiorre, operating partner at Stripes, a growth equity firm. He adds that boosting the American workforce's skills is a "matter of national security."
Europe, and in particular the UK, could stand to benefit from the US visa situation, according to Balderton Capital's Wise. "If those US companies are no longer making the same kind of hires because of changes to their visa system, that means that talent could easily be attracted to UK companies," he said.
If workers can no longer enter the US, the UK may be an attractive alternative. Grech, of Tech Nation, said the UK has many draws: namely, it's English speaking, and its tech ecosystem is thriving. "London startups raised more money since the start of January than Paris, Stockholm, Berlin, and Tel Aviv combined — with $4 billion raised already this year," he said.
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Sooraj_Shah Trump is a checkers player not a chess players...he can only see the next move...
Sooraj_Shah This is misleading and fake news that needs to be reported to Twitter
Sooraj_Shah I am sure that recent furloughs and record unemployment numbers will have had no impact on those new application numbers whatsoever /s
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