• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » H-1B visa cap to exceed this 2023 despite massive layoffs

H-1B visa cap to exceed this 2023 despite massive layoffs

WASHINGTON, D.C., UNITED STATES — The U.S. government’s 85,000 H-1B work visa cap is expected to exceed this year despite increasing layoffs in the tech industry. 

According to experts, hiring technology professionals will likely remain strong due to the push for digitalization and automation.  

Some analysts, including David Foote of labor market analysis firm Foote Partners, also believe that the effects of automation, such as HR’s adoption of self-service systems, might be underappreciated in the tech industry’s cutbacks. 

Meanwhile, a report by CompTIA revealed that financial services, defense, and consulting companies are hiring tech workers who tech giants previously laid off. 

The tech layoffs “have created a great opportunity for traditional companies,” wrote Vijay Govindarajan, a Dartmouth College Tuck School of Business professor, and Anup Srivastava, a professor at the University of Calgary Haskayne School of Business, in Harvard Business Review.

Foote added that the tech sector is ridiculously competitive compared to other industries. 

“Hence they go through cycles of hiring and firing in what appears to be exceptionally high numbers. The huge hiring numbers don’t get as much press attention as the huge layoff numbers.”

H-1B work visa holders are primarily used to fill technology jobs in two distinct industries — IT and outsourcing. According to an Economic Policy Institute (EPI) study, almost 20,000 H-1B visas were issued to outsourcing firms looking to transfer their work overseas.

All in all, the U.S. government received 308,000 H-1B applications in 2022.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image