Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report (UPDATED)
Portfolio Pulse from Benzinga Neuro
Amazon Inc. (NASDAQ:AMZN) has announced it will pause new U.S. Green Card sponsorships for foreign workers through 2024, extending an initial halt started in 2023. This decision comes amid layoffs and a focus on cost-cutting and investment in artificial intelligence. The PERM process, essential for Green Card applications, has become more complex due to the need to prove laid-off employees cannot fill positions intended for foreign workers.
April 25, 2024 | 10:16 am
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Amazon's decision to extend the pause on Green Card sponsorships through 2024 reflects ongoing layoffs and a strategic pivot towards artificial intelligence, potentially affecting its workforce dynamics and public perception.
Amazon's announcement may have mixed impacts on its stock price. On one hand, the focus on cost-cutting and AI could be seen as positive for long-term growth and efficiency. On the other hand, the extended pause on Green Card sponsorships and the implications of further layoffs could raise concerns about workforce morale and the company's public image. The recent stock price drop suggests the market may have concerns about Amazon's short-term challenges.
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