L&T Tech fears 2.5% hit on margins if minimum salary hiked
Tuesday, February 7, 2017, 9:21 AM
L&T Technology Services said its pre-tax profit margin may be hit by up to 2.5%, if US legislation increases minimum salaries for H1B visa holders to $1,30,000. The Company is working on alternatives, including shifting the jobs to India. L&T has over 1,600 engineers in the US and around 65% of them are on H1B visas.