Donald Trump signed an executive order calling for a comprehensive review of the H1-B visa system, which he believes allows companies to undercut American workers, according to CNBC
. While it does not change any policy on its own, nor does it set a timeline for eventual reforms, it indicates that the administration is planning to tighten the program's requirements. CNBC noted that the White House has already ceased the practice where it expedited H1-B applications in exchange for a fee.
The move could hold huge implications for the tech industry
, which is a major sponsor of such visas. However it could also heavily affect the accounting industry, which is another major source of H1-B sponsorship. MyVisaJobs.com
, which collects an annual list of the top 100 H1-B visa sponsors a year, lists all the Big Four firms alongside tech firms like Microsoft and Google. Deloitte Consulting, for instance, is ranked 6, Ernst and Young is ranked 11, PwC is ranked 21, Deloitte and Touch is ranked 24 and KPMG is ranked 37. Within the wider world of financial services, JP Morgan Chase was ranked 18, Goldman Sachs was ranked 31, Citibank was ranked 36, and Bank of America was ranked 44.