Experts slam ban on bailed-out firms hiring H-1B holders

Via The Times of India

WASHINGTON: Economic experts have slammed a provision in the $787 bailout package that US President Barack Obama signs into law on Tuesday barring banks and other financial institutions receiving government funds from hiring foreign workers.

But analysts also suggest that the impact of the provision in the American Recovery and Reinvestment Act barring such firms from hiring foreigners through the H-1B visa programme, largely cornered by Indian techies, may not be as severe as some prophets of doom fear.

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