India Tech Giant Warns Trump's 'Radical Shift' to Hurt Industry (bloomberg.com) 295
The vice chairman at Tech Mahindra, one of India's largest technology services companies warned that U.S. President Donald Trump's visa policies will damage the industry as his company reported weak earnings and his stock fell the most in almost two years. From a report: Tech Mahindra said net income was 5.9 billion rupees ($91 million) in the fourth quarter, compared with the average analyst estimate of 7.8 billion, according to estimates compiled by Bloomberg. The U.S. is tightening the criteria for visa programs that Tech Mahindra and other outsourcing companies use to bring skilled foreign workers into the country. Trump and other politicians have criticized the programs for hurting American workers and allowing companies to use cheaper employees from abroad. Tech services companies, including Cognizant Technology Solutions, have been cutting positions in India. Some workers have blamed Trump for prompting the job losses and exacerbating problems in the industry.
This is the best news I've heard all day! (Score:5, Insightful)
Good riddance!
Re:This is the best news I've heard all day! (Score:5, Informative)
The lying meme plutocrats use to get even plutoier.
Re:No kidding. I love how he's "warning Trump" (Score:4, Insightful)
Not really, no. There are plenty of good tech workers right here in the U.S. already. Students will move back to tech once the glut of under-employed U.S. tech workers is absorbed.
I'm no fan of Trump, but even a stopped clock is right twice a day.
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Unless the clock is right three times a day.
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Daylight savings time only ends one day a year, though.
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There are plenty of good tech workers right here in the U.S. already.
The definition of "good," is not what you think it is.
"Good," is defined by the people who hire.
"Good," in this context, is, "cheap."
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Well, that's off the table now. They'll have to settle for good as in competent. Why should I shit my pants over employers having to pay employees what they're worth?
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Why should I shit my pants over employers having to pay employees what they're worth?
Because employers are not the ones taking a hit.
You are.
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No, I'm really not. Sure, prices of some things may go up a bit, but by the time you factor the number of units software development costs are amortized over plus the savings brought by higher quality development (yes, Indian programmers can be great, but Infosys doesn't typically hire those programmers), the additional cost is quite small.
Re:No kidding. I love how he's "warning Trump" (Score:4, Insightful)
So, what you are delicately trying to say, is:
Fuck you, i've got mine.(And if you were smart, you would do the same thing!)
There's just one problem with that. This mentality leads to systems that self-destruct, as the vital infrastructure required to sustain them is systemically removed to meet your absurd desires of both "self enrichment" + "Oppression/disablement of others". Basically, your money (which is a promise to have work done for you, and nothing more.) becomes less valuable, because you have destroyed the availability of labor, by removing the labor itself (the jobs to be done) from the market.
This will do nothing but cause a massive market contraction when taken to the extremes, which is exactly where people like you are driving it towards.
Good luck living the high life, when the standard of living drops like a stone.
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Slashdot consensus seems to be:
- Tech is not a good place to work, avoid if possible
- Tech requires innate, DNA level qualities for people to find it attractive (hence women aren't interested)
- Any attempt to increase the labour pool is to drive down wages or some kind of social justice jihad
- Only westerners are any good at it, Indians in particular all suck so hard most can't even get their code to compile
- Companies prefer this level of incompetence because CEOs prosper in the short term from the cost sa
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I find people with attitudes like his very funny. Because if it does go down how he portrays. somebody like me will have him kissing the ground telling them where his food and weapon supply is.
Conservative vs Economic Nationalism (Score:4, Insightful)
Not exactly. The Conservatives - the ones in the Heritage Foundation, American Enterprise Institute, Club for Growth, et al, still believe that companies should have the freedom to hire anyone they want, even if it means making it easier to legally migrate. Their problem: Trump has run away w/ their party. When someone wins the White House by carrying states that haven't voted (R) since President Reagan's 49 state landslide in 1984, it's tough to argue w/ him, let alone stop him from calling the shots in the party.
What's new here is the Economic Nationalists - the people like Bannon, Sessions, Miller, et al, who do not believe in making it easier for companies to offshore jobs and then resume selling their wares in the US. And that's likely to become a growing and increasingly powerful faction in the GOP, displacing the classic George Will, Steve Forbes, Charles Krauthammer types who believe in letting the market simply work its magic, no shackles involved.
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They think they have a lock on the Hispanic vote, which is why they support illegal immigration, which is mainly from Latin America.
In the case of Indians, it's not so clean, particularly since Liberals have made common cause w/ Muslims everywhere, and a good percentage of the Hindu immigrant population is uncomfortable enough w/ that to go Republican, despite the GOP's stand on H1B visas.
Upset you can't scam... (Score:4, Funny)
American companies with incompetent contractors any longer?
Good (Score:4, Insightful)
Employment by foreign workers is a privilege, not an entitlement.
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Not an entitlement, a violation of citizens.
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No it was our management and executives who blocked us from hiring who we wanted.
Yaay!!! Go Trump! (Score:4, Insightful)
Finally, a president that actually demonstrates care about US workers, and also actually follows through on at least some of their campaign promises.
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You're making the assumption that he acts because of what's "Good for the Country," instead of trying to drive wages down across the board so his 1% friends can make MORE money...which they'll make sure he gets some of, too. It's just that this blatant importing of inferior talent is undermining the very businesses of those plutocrats. Methinks you give him credit for something he doesn't even understand!
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As in Betsy DeVos destroying education.
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Re:Yaay!!! Go Trump! (Score:5, Insightful)
>> Seriously does anyone believe anything Trump says?
He said he was going to end H1B abuse. Given giant outsourcing companies like Tech Mahindra are sounding the alarm bells and directly blaming Trump after taking about a 33% hit on their net profits I can't see how you could make any rational argument that he's actually NOT following through on what he said he would.
Also WTF does coal have to do with this? but I'll respond since you bought it up. here's a direct quote from HIllary Clinton during the March 13 CNN Town Hall:
"....we're going to put a lot of coal miners and coal companies out of business, right?"
BTW congratulations on choosing a clearly appropriate user name.
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Yeah that's not true at all. Extracting coal is cheap, very cheap. It's the regulations that have caused coal mining to become expensive and push people out of that work. Let me give you an example. Under the Obama administration, they tightened regulations so much that coal mines in Canada were being shut down because markets dried up. Now under Trump without those regulations, those mines are now re-opening and that's on top of the fact that they have provincial and federal government anti-coal stanc
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> Coal is still a profitable industry, as long as regulations don't drive the cost through the roof.
It was profitable to the mine owners. To the health of the public, and to the health of the workers, the cost was very high. We're seeing the effects of poor environmental and miner safety regulation in China, just as we used to see it in the USA. And because coal is a limited fossil fuel, slowing its consumption is actually preserving its availability for the next few generations. While US coal reserves a
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Of course. I also read this article. Did you?
Re:Yaay!!! Go Trump! (Score:4, Insightful)
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There it is. I was waiting for the typical response from the Intolerables.
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The liberal news that puts a negative slant on everything Trump does? The one that writes stories about Trump not holding his wife's hand, even though Clinton and Kennedy actively cheated on their wives while President? That news?
Yes, I do. I don't put much stock into it, frankly. For all the "evidence" that everyone in Trump's organization is Russian, a whole lot of nothing has been done about it. Telling to say the least.
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Re:Yaay!!! Go Trump! (Score:4, Insightful)
...or... they actually have nothing.
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The liberal news that puts a negative slant on everything Trump does? The one that writes stories about Trump not holding his wife's hand, even though Clinton and Kennedy actively cheated on their wives while President? That news?
Yes, I do. I don't put much stock into it, frankly. For all the "evidence" that everyone in Trump's organization is Russian, a whole lot of nothing has been done about it. Telling to say the least.
Slow down there A.C. you also forgot about a complete rejection of journalistic ethics when reporting anything Trump such as an abandonment of the Goldwater rule and narrative over facts or just making up facts ("we have no evidence for this claim but will still claim it") and using cherry picked experts to support that narrative or made up fact. Because only CNN can look at leaked classified material, trust us don't read what was leaked.
Or not even doing the basic job of journalism by actually looking for
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You have to go to the type 2 diabetes demographic? Wow scraping the barrel there much?
Re:Yaay!!! Go Trump! (Score:4, Insightful)
>> Nothing he does will save auto industry jobs, coal industry jobs, or any other kind of job.
Seems obvious to me from this and many other similar articles that he's already saving many US software developer jobs. Frankly thats all I care about.
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Seems obvious to me from this and many other similar articles that he's already saving many US software developer jobs. Frankly thats all I care about.
Nope. They'll just be outsourced instead of H1B'd.
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Those were jobs already on there way out. In other words, who cares. If they outsource the entire Silicon Valley it would be a boon to the US and maybe wake up the rest of California.
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Those were jobs already on there way out.
Yes, that's what I said. Thanks.
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Far more unlikely, but even if true its far more likely to at least include some American workers.
Re:Yaay!!! Go Trump! (Score:4, Informative)
As for the CAFE standards, they are being abused now. Truck don't count. So now many luxury cars are trucks and suvs... But for some reason we do not export a lot of trucks...
Re:Yaay!!! Go Trump! (Score:4, Insightful)
This will also help less connected companies hire real, PhD level people, the quota not being filled with infosys 'air thieves'.
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As for the CAFE standards, they are being abused now. Truck don't count. So now many luxury cars are trucks and suvs... But for some reason we do not export a lot of trucks...
The majority of luxury cars are actually still cars. Only the largest SUVs are still classed as light trucks. And CAFE does not completely ignore light trucks, as many people assume. They are also restricted by CAFE, although not nearly as much. And finally, they have to hit a combined target of 35 mpg, meaning cars and light trucks. Without higher-octane fuel they can only do so much with cars, so they're having to take some of the emissions out of the pickups as well. That's why for example Ford went with
No champions (Score:3)
This president does not give one tenth of one shit about US workers. He still owns a visa mill. His "deals" brokered with Ford and Carrier turned out to be completely fake, just as we believed at the time. Nothing he does will save auto industry jobs, coal industry jobs, or any other kind of job. Even rolling back the CAFE standards would actually be detrimental to US automakers, at least the competent ones.
Too bad there isn't a champion, someone with leadership and broad vision, to come forward and oppose him!
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Ouch, I felt the heat from that burn from here.
I despise Trump but... (Score:5, Interesting)
I despise Trump with a passion, but I can't argue with this one.
The visa program has served no purpose other than to cause North American wages for tech workers to stagnate because companies could simply bring someone over for cheap. There have been more than plenty of stories of companies inventing positions that exactly matched the resumes of offshore works *just* so they couldn't be filled by local people.
There has *never* been a shortage of qualified talent in the west. At least, there hadn't been. There may well be so now, since the shenanigans North American companies have been playing have driven candidates right out of the field.
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Re:I despise Trump but... (Score:4, Interesting)
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... since the shenanigans North American companies have been playing have driven candidates right out of the field.
But we gotta fix that before we throw out the baby.
Thank you Trump! (Score:2, Interesting)
Good riddance you underpaid cockroaches! Stop stealing jobs that you can't do without tons of hand holding!
This is awesome... (Score:4, Funny)
...Slashdotters don't know what to hate more. Cheap IT outsourcing of entire departments through abuse of the VISA program, or, Trump.
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I think in this case the choice for most is clear.
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Wait... did you just imply Trump is some kind of anti-hero badass out for revenge?
p.s. Payback is an amazing movie.
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No contest on this one. H1B is broken and wide open for rampant abuse.
Woo-hoo! Go Trump! (Score:5, Interesting)
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Dude, you are old and in IT. YOU will be screwed. It doesn't matter how good you are or your experience.
If the IT industry has a 1.5M+ shortage of skilled IT workers (as expected in recent studies), they're not going to care about how old I am. The construction trades are already experiencing a shortage in skilled trade workers because kids are going to college, American workers are aging out of the workforce and foreign workers are going home. If Trump ever signs a $1T infrastructure bill, most of those "shovel ready" jobs won't start due to a lack of construction workers.
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You get so excited about creimer... How do you clean the jizz off your keyboard when you're done? Oh... I see - you don't clean it off.
Studies do show that the average keyboard is two to three times dirtier than a toilet.
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I'm pretty sure it has nothing to do with obsession. If you have been around slashdot for a while you will know about what he's saying. It's more like feeding him his own poison.
Is Donald Trump Michael J Fox in disguise? (Score:4, Insightful)
Some workers have blamed Trump for prompting the job losses and exacerbating problems in the industry.
How exactly can Trump be responsible for the job losses from outsourcing to India? Does he own a DeLorean? As far as I know he has had nothing at all to do with the instigation of H1Bs, though I'm sure he has used them on occasion.
Is this a case of "let's blame Trump for the bad weather"?
Because REEEEEEEE! (Score:2)
Basically, these people will never admit that they're wrong and their views are cockeyed.
The most they'll ever do is devolve into autistic screeching if you try to force a real answer out of them.
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And so I assume that Obama wished it was never signed into law? That he spoke out against it?
Your assumption is wrong.
Are you just that stupid or is it deliberate?
This assumption is also wrong.
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Are you agreeing that Trump isn't to blame?
Under a normal administration, most policies don't become reality until the following year after transferring power from the previous administration. Nothing is normal about Trump or his administration. It's a bit early to assign blame. Wait a few months.
...bring DKILLED foreign workers into the country (Score:4, Insightful)
Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! Ha! ...
Sorry, I just couldn't help myself. They can't interview customers, they can't write a report, they're incompetent at writing a spec, and they lack basic programming skills. But they're CHEAP! (And, I've never seen a client who found them less expensive on an overall-project-wide effort. Only bean counters love 'em.)
Comment removed (Score:5, Insightful)
He can roll to his second business (Score:2)
[Mumbai Accent] Hello, this is Bob from Microsoft. We have detected that you are infecticated with a computer virus. We would like to enter your system and fix this for you. We just need access and a credit card...
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The headline is incorrect. This Indian VP dude is afraid it will hurt HIS industry, not THE industry.
He's speaking to his investors. To him and to them, his industry IS the industry. Why would he be talking about some other industry, of interest only to other people elsewhere in the world?
I haven't seen any real action on Trump's part (Score:3)
Better scrutinizing doesn't mean less visas (Score:2)
ORLY? (Score:5, Insightful)
Tech services companies, including Cognizant Technology Solutions, have been cutting positions in India. Some workers have blamed Trump for prompting the job losses and exacerbating problems in the industry.
I'm sure they regret voting for him in the last election now.
Oh wait...
Why would these people assume a foreign president has their best interests at heart again? If they want to get angry about unemployment, it should be at the people actually responsible for their corner of the world.
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Why would these people assume a foreign president has their best interests at heart again?
Because western leaders have been choosing foreigners and big international financiers and rootless cosmopolitan elites over their own countrymen for a long time.
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Why would these people assume a foreign president has their best interests at heart again?
Why would you think they would assume anything of the sort. You have a VP of an Indian company, talking to his investors and other people in the Indian IT industry, warning them that Trump's changes may negatively impact their industry. There's no indication of any assumption that Trump should be watching out for them, just a warning that Trump's actions may damage them.
Tech Mahindra are hopeless (Score:3, Insightful)
I've had the misfortune of having these utterly inept assclowns come and mess up our codebase. Their leaders talk a good game, but their coders write garbage and have cost us money.
Our greedy, short-sighted managers then brought them in to take over maintenance of a bunch of old applications, having learnt absolutely nothing.
These people prey on Anglo-Saxon MBA culture to always go for the cheapest option, no matter what. The Western disease of MBA penny-pinching false economy, coupled with their own greed and complete ineptitude is a cancer.
Tech Mahindra should kindly do the needful, and STFU.
PHB-to-English Translation: (Score:2)
"The industry is changing and I'll probably get fired. I must spread FUD!"
What kind of arrogance is this? (Score:5, Insightful)
That any country would act like they have a right to the US labor market? I don't think much of Trump but I agree with this move. When companies start replacing staff with H1-B visa holders, that's when it's gone too far.
It's our country and, if we decide you can't come here, that's too damn bad. What really gripes me is the suggestion that anyone outside the US thinks they have a right to come here and work. Let me say this in all sincerity...fuck you.
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What kind of arrogance is this?
It's the kind of arrogance Trump spoke of routinely while campaigning. Our elites have their heads so far up foreign asses that other nations feel entitled to receiving every deference for their concerns, and they can't help but publicly melt down if those concerns ever meet any resistance. Not since Reagan pushed back on Japan (limiting motorcycle imports and establishing content requirements in auto manufacturing) has there been any resistance to the destruction of the US industrial base or the displace
Re:What kind of arrogance is this? (Score:4, Insightful)
Funny, the US goes around talking like that about access to other countries markets all the time. It goes around demanding other countries have to have the same intellectual property laws and have them the same way. Other countries must allow access to American genetically modified food. But I guess it's not arrogance when the US does it, right?
Tech Mahindra SUCKS! (Score:5, Interesting)
We have to use them as our first choice for contractors at work. EVERY SINGLE one they have sent us - we sent back within two weeks because they didn't know the technology, don't know how to code their way out of a paper bag. Can't write code that even compiles! Their people are just cr@p! THAT is why they are losing money! I bet NO ONE wants their resources because they suck! I can get Americans RIGHT out of college that are FAR superior than their folks that supposedly have 5-7 years experience!
I hope they lose enough money they go OUT OF BUSINESS!!!
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It's because they aren't given knowledge of a platform/technology.
They're taught just what they need to know to pass a test and regurgitate the book on demand.
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I hope they lose enough money they go OUT OF BUSINESS!!!
Yeah, another few quarters of $91 million net income will drive them right into the ground.
Isn't that the entire point? (Score:4, Insightful)
To shift revenue from foreign companies to US companies? Sounds like Trump is doing exactly what he promised to do.
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Unfortunately, the people who are too blinded by their pure hatred of one extreme or the other cannot see past that hatred and see the reality of what is happening. Or they're just not willing to admit a politician is actually fulfilling campaign promises, for better or worse.
Good! (Score:2)
United American Tech Workers (Score:2)
Regardless of our political leanings, I think the majority of us Americans in the technology industry approve of Trump in at least this one area.
If you're looking for sympathy... (Score:3)
Good, let's keep on doing it. (Score:2)
A good start, but it's time to make them feel the same pain that they inflicted on Americans.
Economics and zero-sum outcomes (Score:2)
I am not an economist and most of my "education" in economics consists of news magazines and the EconTalk podcast.
But whenever I talk to someone online or in person who has an economics background, we often get around to the topic of whether economics has a zero-sum component to it and nearly all of them say it does not.
I can always think of lots of examples in the short run where it is zero sum -- a firm has a finite revenue in a given period, thus profit is a finite value, and how that profit is distribut
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Re: Hm (Score:3, Insightful)
This is excellent as nd one of the main reasons I voted for President Trump.
Every Rupee they are not making, really is now a dollar for an American IT specialist. I have no pity at all with Indians, I am not going to take a backseat because of some Indian kid in New Delhi.
America First, Thank you Mr. President!
Tech Mahindra (Score:5, Insightful)
So Tech Mahindra has weak earnings, and it's Trump's fault? Just b'cos Tech Mahindra can't keep bringing in Indians in for every req they have. A recruiter I know told me that they have a policy of hiring only ethnic Indians (be they US or Indian citizens), and very rarely do they prefer Americans. The sooner they're driven out of the US market, the better.
Congress should pass a special law banning Tech Mahindra from using any H1Bs, L1s or anything like that. It won't hurt the industry, just losers like Tech Mahindra, Syntel, et al
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Let's discuss "most deaths."
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now, this isnt saying that this is a good way to look at it or come up with any kind of useful information, but if thats the only variable, i stand by my statement. between the gangs in the cities and antifa in c
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You are more full of shit than a Christmas turkey.
Try to focus on the ball. It's the small round thing called white supremacy.
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Check me out. I live in a big city. You may have heard of it. Las Vegas. And what he explains is 100% true. And your rebuttal just made you look like more of a fool than this site thought you were. So please take your ball(identity politics) and go home. We don't want to play with you.
Re:THIS DOOD--ECONOMIC TERRORIST? (Score:4, Insightful)
Are you kidding? Who was the other candidate that actually had a lengthy Death List? Hint: It wasn't Trump.
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Fail.
Trump is making America hate again and you're enabling.
Shame on you.
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You have already done that with your previous posts. I am just striking back.
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You really need to lay off the chems.