Desk note · industry · IT services / US immigration
The US Labour Department suspended Cognizant, Infosys, TCS, Wipro, HCL, and Capgemini from the Permanent Labour Certification (PERM) programme on 8 October 2026. Microsoft and Adobe were suspended too. New and pending PERM filings for those employers will not move while the ban lasts.
On 8 October 2026, US Labour Secretary Keith Sonderling said the department is suspending several large technology employers from the Permanent Labour Certification programme. Indian IT services firms on the list include Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL, and Capgemini. Microsoft and Adobe were suspended as well, with officials citing active federal investigations. The department said it will not accept new PERM applications and will not process pending ones involving those companies.
PERM is the step many US employers use before they can sponsor an H-1B worker for a green card. A suspension does not cancel existing visas overnight. It stops the permanent residency pipeline for new filings at these employers while the ban is in force. For Indian IT services firms, US revenue depends on teams that rotate between India and client sites. Slower green card processing can make US postings less attractive and push hiring toward offshore delivery centres.
The announcement landed a day after the Department of Homeland Security proposed large new fees for Optional Practical Training, another route foreign students use to work in the US after graduation. Taken together, the moves tighten legal paths from student visa to long-term US employment.
If you work in IT services or plan to, client work in the US may still happen on short-term visas even when PERM is paused. Career planning for US residency through a suspended employer needs a reset. If you invest in IT stocks, this is a policy shock to how those firms staff US projects, not a comment on one quarter’s revenue. Watch whether clients shift work offshore, whether rivals not on the list gain share, and whether Washington lifts suspensions after investigations close.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.