Consulting firms may be less outspoken than tech CEOs, but they're staring down the same staffing problem as Silicon Valley after President Donald Trump introduced a $100,000 H-1B application fee last Friday.
Trump's overhaul of the program, by mandating a $100,000 fee for new applications, may disrupt projects of Indian outsources like Tata Consultancy Services Ltd. and Infosys Ltd. that derive a large chunk of revenue from the US. TCS shares fell as much as 3.4%, the most in more than two months, while Infosys slipped as much as 3.9%. Tech Mahindra Ltd. declined 6.5%.