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Tyre, of Missouri, died after slipping out of his seat on the Orlando Free Fall ride at the ICON park at around 11pm.A Dollywood spokesperson said that that their 'Drop Line' ride will be closed 'out of an abundance of caution'.The ride is operated by the SlingShot Group of Companies.On Thursday night, Tyre Sampson fell off of the FreeFall ride at Orlando's ICON Park - a 430-feet-tall amusement ride, according to the attraction.Dollywood is closing one of their tower rides which was made by the same manufacturer as the Orlando FreeFall ride in Orlando.Both of these are not good as far as the US economy is considered.Dollywood closes tower ride made by same manufacturer as Orlando FreeFall after tragic death of teen So if inspite of all this data, if for emotive or political reasons, some decisions are taken to restrict or constrict the movement of those skills, either jobs will be unfilled or jobs will move out of the US. There are more than 2 million unfilled jobs in the US on account of these issues.
“Even college enrolment is 50 percent foreigners. That is well documented even by the US Home Department stats and Labour department.” Reacting to the report, Nasscom chief R Chandrashekhar said: “The fact is that skills required in this industry are simply not available in the US. The brokerage firm has cut FY17 earnings per share estimates to Rs 35.12 from Rs 35.77. This runs counter to President Donald Trump’s campaign promise to protect American workers from foreign competition.Īccording to Bank of America Merrill Lynch, every 10 percent hike in H-1B wages can hurt earnings by 12 percent of Tech Mahindra. Indian IT firms’ business model relies heavily on price arbitrage, where the same work which can be done by American workers is done by Indian workers at a third or a fourth of the price.
This is more than double of the current H-1B minimum wage of USD 60,000 which was established in 1989 and since then has remained unchanged.īall-park estimates show the average salary of a H1B visa-enabled Indian technology professional employed in the US is in the range of $80,000-110,000. The High-Skilled Integrity and Fairness Act of 2017 introduced by California Congressman Zoe raises the salary level at which H-1B dependent employer are exempt from non-displacement and recruitment attestation requirements to greater than $130,000.
Infosys, TCS, Wipro and Tech Mahindra, the big four Indian IT firms, each lost between 3%-6% on the Bombay Stock Exchange on fears that their competitiveness vis-à-vis global competitors will now be eroded as they will be forced to hire expensive American labour.
New Delhi: Indian tech stocks tanked on news of a new US legislation that seeks to double the minimum salary of H-1B visa holders, making it difficult for firms to replace American employees with Indian software professionals.