JPMorgan Chase, the largest bank in the United States, has instructed its H-1B visa holders currently outside the country to return before September 21, following President Donald Trump’s new order that places an annual $100,000 fee on companies for each skilled foreign worker employed under the H-1B program.
The directive, which came into effect at 12:01 a.m. ET on September 21, has sent ripples through the technology and banking industries, particularly Indian IT firms that are heavily dependent on these visas to deploy engineers and consultants to American clients. According to Reuters, JPMorgan’s external immigration counsel sent a precautionary email advising employees to avoid international travel until further clarity is provided.
Earlier in the week, Microsoft issued a similar advisory, asking both H-1B and H-4 visa holders on its payroll to return to the United States and remain there until the situation stabilizes. These precautionary measures underscore the growing uncertainty as firms scramble to respond to the Trump administration’s latest immigration order.
Explaining his decision, President Trump stated that the H-1B visa system, originally designed to supplement the U.S. workforce with high-skilled talent, had been “exploited” by companies to replace American workers with lower-cost labor from abroad. He insisted that the new fee would discourage misuse, though industry analysts believe the impact will be disproportionately felt by Indian professionals.
Government data shows that in 2024, Indian nationals received nearly 71% of approved H-1B visas, while Chinese workers accounted for about 11.7%. In the first half of 2025 alone, Amazon and its cloud arm AWS secured approvals for more than 12,000 visas, while Microsoft and Meta each received over 5,000. With such heavy reliance, the $100,000 annual fee has sparked concern that sending Indian professionals abroad could soon become financially unsustainable for outsourcing firms.
Executives at leading Indian IT companies, including Infosys, Wipro, Cognizant, and Tata Consultancy Services, warn that the new policy could seriously undermine their ability to serve U.S. clients. As H-1B visas typically remain valid for three years and can be extended up to six, the new rules risk reshaping long-term hiring strategies across the industry.
While President Trump has suggested the tech industry will “be happy” with the reform, early signs point to anxiety rather than relief. Share prices of major Indian IT firms slipped as markets digested the news, and immigration lawyers continue to field panicked calls from professionals unsure of their future.
The fallout from this sweeping policy shift is expected to intensify in the coming weeks, with Indian IT workers likely to bear the brunt of the change.
