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00:02The Trump administration suspended eight technology companies from sponsoring foreign workers for green cards on Thursday, according to CNBC.
00:10Vice President J.D. Vance singled out Microsoft, claiming it replaced 6,000 laid-off workers in 2025 with H
00:17-1B visa holders.
00:19However, federal data shows two-thirds of Microsoft's 6,258 H-1B approvals went to existing employees.
00:26Amazon led all companies with 19,178 approvals, followed by Meta with 6,294.
00:33Neither company was suspended.
00:35All eight suspended companies rank among the nation's top 50 H-1B sponsors.
00:40The administration also announced an investigation into alleged J-1 visa fraud involving nine major American universities.
00:46Trump supporters argue that foreign worker visa programs undermine American workers by encouraging employers to hire from abroad.
00:53For all things money, visit Benzinga.com.
