Google, headquartered in California, announced that they would pause new green card applications for foreign workers. According to a statement from Google’s Chief Financial Officer, this decision was made due to the current economic uncertainty caused by global health events.
Cost cutting measures
The globe-spanning health crisis has had a significant impact on the global economy, leading to widescale job losses, employment immigration issues and economic uncertainty. This has led many companies to take measures to reduce costs and protect their bottom line. For Google, pausing new green card applications for foreign workers is one way to control expenses and ensure that the company remains financially stable during difficult times.
Impact on foreign workers
The decision to pause new green card applications for foreign workers is likely to have a significant impact on the lives of many foreign workers who were planning to apply for a green card. Many of these individuals may have already invested time and money into the process. They may now be facing uncertainty about their future in the United States. Additionally, it may cause difficulties for the company in terms of talent attraction and retention in the future.
Additional cost-correcting strategies
This is one of the several measures taken by Google to cut costs. The company further announced that it would slow down hiring for non-critical roles and freeze employee salaries. These actions aim to ensure that the company can weather the economic downturn.
Google is not the only company making changes
It’s worth noting that Google is one of many companies that have taken measures to reduce costs and protect its bottom line. Many other companies have also announced layoffs and hiring freezes. Some have even gone so far as to reduce or eliminate employee bonuses.