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Infosys and Wipro ADRs Fall 3 Percent After US Suspends PERM Labour Certification Programme
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Moneycontrol•08-10-2026, 21:00
Infosys and Wipro ADRs Fall 3 Percent After US Suspends PERM Labour Certification Programme
- •American Depository Receipts for Infosys and Wipro dropped nearly 3 percent on October 8 following US regulatory actions.
- •The US government suspended major technology companies from the PERM labour certification programme, which is essential for permanent residency applications for foreign workers.
- •US Vice President JD Vance announced the suspension against Microsoft and other tech giants, citing the need to prioritize hiring American workers.
- •The Labour Department confirmed the suspension affects firms including Cognizant, Infosys, Tata, Wipro, HCL, Capgemini, and Adobe.
- •The H-1B visa and PERM programmes have faced continued scrutiny from US officials who argue the systems are abused to the detriment of domestic workers.
Key Questions Answered
The US Labour Department suspended several major technology and IT companies from the PERM programme, including Microsoft, Cognizant, Infosys, Tata, Wipro, HCL, Capgemini, and Adobe.
Following the US government's suspension of Infosys and Wipro from the PERM labour certification program, American Depository Receipts (ADRs) for both Indian IT majors fell nearly 3% in trade on October 8, 2026.
US Vice President JD Vance stated that the action aims to stop companies from replacing American workers with cheaper foreign labour and to encourage firms benefiting from the US economy to prioritize hiring local American workers.
