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Daily Mail
04-07-2025
- Business
- Daily Mail
Massive corporate giant applies for 6,000 guest worker visas amid mass layoffs
Microsoft applied for as many as 6,000 specialized migrant worker visas leading up to a decision to terminate 9,000 jobs globally, according to new reports. The global tech giant revealed this week it would cut around 4 percent of its global workforce as it ramps up investments in artificial intelligence. The move has seen loyal, long term American employees lose their livelihoods and sparked unrest at a time when President Donald Trump is trying to ramp up local production and employment. But data compiled by U.S. Citizenship and Immigration Service suggests that in the 2025 fiscal year, Microsoft has already applied for 4,712 H1-B visas. Anecdotal commentary on X among former staff and insiders actually places this number closer to 6,000 - but the exact figure has not been verified. Suggestions that Microsoft has applied for thousands of H1-B visas would track with historical applications the company has made. In the 2024 fiscal year, 9,491 H1-B visa applications were filed, and almost all were approved. The H1-B visa is for skilled foreign workers, and allows companies to sponsor an individual to move to the US for work. But the visa is often tied to a specific role at a specific company, meaning an employee's right to live in the United States is tied to their employment and, theoretically, making it less likely that they will quit their jobs. Once their role is terminated, they often have to leave the United States. 'In some sense, there's nothing strange here,' Steven Camarota, director of research at the Center for Immigration Studies, told Newsweek. 'You have a situation where the advocacy or use of guest worker programs is entirely always disconnected from the actual behavior of businesses. 'The actual data we have never supports the idea that we are terribly short of workers in the way that the business community says.' The tech giant will slash around 9,000 jobs across different teams, geographies and levels of experience, the company said on Wednesday. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' Microsoft said in a statement. It is the fourth round of layoffs at Microsoft this year following the cutting of 1 percent of its headcount in January, 6,000 further job cuts in May and 300 more in June. In April, Microsoft said it planned to use third-party firms to handle more sales of software to small and mid-size customers. The company had a global headcount of 228,000 at the end of June 2024. Microsoft has market capitalization of over $3 trillion - the biggest in the world - but it is looking to rein in costs as it funnels billions into its ambitious bet on artificial intelligence. But its use of expert foreign labor is among the highest in the United States, ranking seventh out of the top 10 US corporations. Amazon ranks first, with 9,200 applications in 2024. has reached out to Microsoft regarding its use of the H1-B visa program. There is no known or confirmed link between the H1-B visas Microsoft is applying for and the global cuts which have been made. But this has not stopped MAGA supporters from calling for the visas to be stopped while layoffs of local employees are taking place. 'This is economic treason. Approving a single H1B right now is a grave betrayal of your fellow citizens,' right-wing X account Pine Baron wrote. 'How is this not economic treason? Every H1B approved now is a slap in the face to hardworking Americans. Stand up for your fellow citizens,' another said. 'Trump should be stopping H1-B until this is under control. Microsoft should not be allowed a visa person for 10 years,' a third wrote. Amid Trump's efforts to deport illegal immigrants and bring work back to America, the H1-B visa has drawn the ire of MAGA loyalists who believe its existence takes jobs away from hardworking Americans. Supporters of the visa program, including Elon Musk and Vivek Ramaswamy, argued the program attracts high value workers to the United States and even suggested they were in favor of increasing work visa allowances. But the president's base is still vehemently opposed. Trump himself has not indicated he has any plans to change the H1-B visa scheme, even as he seeks to carry out the largest mass deportation agenda in US history. 'The problem here is, for the most part, the system works well for business, and if it works pretty well for business, well the incentive to change it in ways that would protect American workers is hard,' Camarota said. 'The reality is that the business community is convinced they need the workers and there is tremendous skepticism in the part of the public. 'The end result is political stalemate in terms of reforms.' Microsoft experienced one of its best ever quarters between January and March, with $26billion in profit. Stock is up nearly 20 percent year-to-date. The news comes days after Amazon's CEO announced brutal workforce cuts as the company also increases its use of AI. Amazon boss Andy Jassy said he plans to reduce the company's corporate workforce over the next few years as the tech will make certain roles redundant. Jassy told employees in a note seen by the Wall Street Journal that AI was a once-in-a-lifetime technological advancement and it has already transformed how Amazon operates. 'As we roll out more Generative AI and agents, it should change the way our work is done,' he wrote in the memo. It is not yet clear how many workers will lose their jobs and when the cuts will come. 'It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce,' Jassy explained. Those close to the matter told the outlet that a large chunk of the decrease in headcount would hopefully occur via attrition. This means as employees move on their roles will not be filled. However, this will not cover all of the reductions and layoffs are still expected to occur at some point. Amazon is the second largest employer in the country and is seen as a bellwether for employment stability. The company has already slowed hiring, suggesting AI is already influencing the company's staffing needs. It is also clear the company is betting big on the new technology, after it revealed plans to splash $100 billion on data centers that AI depends on. It comes as Americans grow increasingly concerned about the impact of AI on the jobs market. The tech is continuing to upend the jobs market with white collar entry-level jobs disappearing fastest and layoffs in tech, finance and consulting gathering pace. Earlier this month Procter & Gamble, which makes diapers, laundry detergent, and other household items, announced it would cut 7,000 jobs, or about 15 percent of non-manufacturing roles.
CBS News
05-06-2025
- Business
- CBS News
Procter & Gamble says it will cut 7,000 jobs over the next 2 years
Procter & Gamble said Thursday it will cut 7,000 jobs over the next two years, or about 15% of its non-manufacturing workforce. In a statement, the consumer products giant said it wants to boost productivity and cut costs as it competes in what the company describes as an "increasingly challenging environment." Procter & Gamble, whose brands include Tide detergent, Bounty paper towels and Pampers diapers, has a total global workforce of 108,000 people. This is breaking news and will be updated.
National Post
03-06-2025
- Business
- National Post
Deel Surpasses $1 Billion Run Rate, Signaling a New Era in Global HR
Article content SAN FRANCISCO — Leading payroll and HR company Deel announced today that it surpassed a $1 billion run rate in Q1 2025 — a significant milestone achieved in just six years since its founding. This accomplishment underscores Deel's rapid growth, global scale, and unwavering commitment to enabling the global future of work. Article content Financial snapshot: Article content Deel crossed $1 billion run rate in Q1 2025 and has continued to grow in April & May It has achieved 75% year on year revenue growth, April 2024-2025. Deel has been profitable since Q3 2023 and has not raised money since 2022. In Q1 2025 it achieved double digit EBITDA margin growth. It has achieved 164% year on year growth across its HR and payroll products, April 2024-2025. Article content With a customer base exceeding 35,000 companies and 1.25m workers across 150+ countries, Deel has emerged as a foundational platform for modern workforce management. Article content The company's integrated product suite and owned infrastructure has reshaped how organizations hire, pay, and manage employees. It offers a unified product platform – eliminating the traditional patchwork of providers many companies used previously – as well as white label and unbundled services, driving long-term growth diversification. Article content 'When I first met Deel, there were 10 people with a big idea, and now they're powering global teams at a massive scale,' said Anish Acharya, General Partner at Andreessen Horowitz and Board Member at Deel. 'Alex and Shuo continue to execute on their vision, methodically building a platform that reduces the complexity of global hiring and enables companies to onboard talent anywhere in the world with speed and confidence. As a result, Deel has become the default infrastructure for global work. Their product velocity and early bet on AI have unlocked tools that make global work simpler and more accessible for customers everywhere.' Article content 'Reaching a $1 billion run rate is a reflection of the trust our customers have put in us,' said Alex Bouaziz, Co-founder and CEO of Deel. 'From day one, we believed the future of work demanded a new kind of infrastructure — one that was global, flexible, and obsessed with quality. We're proud of this milestone, but we're even more excited about what's next. Our work has only just begun.' Article content Article content Article content Article content Article content
Globe and Mail
02-06-2025
- Business
- Globe and Mail
AGI Releases 2024 Sustainability Report
Ag Growth International Inc. (TSX: AFN) ('AGI', the 'Company', 'we', or 'our') today released its 2024 Sustainability Report. The report highlights AGI's recent performance and achievements across a range of sustainability-related topics. 'I am pleased to present our 2024 Sustainability Report, which showcases our recent achievements in sustainability, including our unwavering commitment to global food security, record safety performance, and progress in reducing greenhouse gas emissions intensity,' commented Paul Householder, President & CEO of AGI. 'I am inspired by the dedication and efforts of our global workforce to advance our sustainability strategy and related goals. Over the past year, we have made measurable progress in reducing our environmental impact, fostering a safe and inclusive culture, and upholding the highest standards of governance and ethics. By driving these initiatives forward, we are enhancing the long-term resilience of our business.' Highlights from the report include progress on employee safety, greenhouse gas (GHG) emissions, and employee engagement, among others. Key highlights include: Details of AGI's contribution to support global food security Significant improvements in safety performance, with a reduction in our Lost Time Incident Rate 1 by 46% and in our Total Recordable Incident Rate 2 by 49% from 2023 levels Reduced our Scope 1 and 2 greenhouse gas (GHG) emissions intensity by 16%, on track to achieve our target of reducing intensity by 25% by 2030 Achieved 100% compliance on AGI's annual employee ethics confirmation in 2024 Over 96% of our global workforce completed training on unconscious bias The full 2024 Sustainability Report is available on AGI's website here. AGI Company Profile AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide. Forward-Looking Information: This document contains certain forward-looking information. More particularly and without limitation, this document contains forward-looking information regarding AGI's target to reduce our Scope 1 and 2 GHG emissions intensity by 25% by 2030, compared to our 2021 baseline. This forward-looking information is based on a number of factors and assumptions which have been used to develop such information including, among other things: our ability to continue to implement and the success of our sustainability programs, the timing thereof and the impact on AGI achieving its goals and targets relating thereto; our ability to improve the energy intensity of our manufacturing operations; our ability to manage and reduce our energy consumption; our ability to reduce GHG emissions and GHG emissions intensity; the availability of the capital, labour and services required to successfully implement our sustainability programs on the timetable anticipated and to achieve our related goals; the cost to implement and maintain our sustainability programs; our ability to successfully partner with third parties to implement our sustainability programs; the availability of renewable energy such as solar in the areas that we operate; our ability to successfully advance and/or implement technology and innovation into our operations; and the sufficiency of budgeted capital expenditures in carrying out planned sustainability activities. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Although AGI believes that the factors and assumptions on which the forward-looking information are based are reasonable, undue reliance should not be placed on the forward-looking information because AGI can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties, most of which are beyond our control. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to: the risk that we are unable to implement our sustainability programs in part or in full and/or on the anticipated timetable and/or that they are not successful in accomplishing our sustainability goals; the risk that we are unable to improve the energy intensity of our manufacturing operations materially or at all; the risk that we are unable to reduce our energy consumption materially or at all; the risk that we are unable to reduce GHG emissions and/or GHG emissions intensity materially or at all; the risk that the capital, labour and/or services required to successfully implement our sustainability programs are not available in part or at all and that as a result we are unable to achieve our sustainability goals on the anticipated timetable or at all; the risk that the cost to implement and maintain our sustainability programs is higher than currently anticipated or subsequently increases such that the implementation and/or maintenance of one or more of such sustainability programs becomes uneconomic; the risk that we determine to allocate our financial, managerial and/or operational resources to priorities other than the achievement of our sustainability goals due to factors outside of our control or otherwise; the risk that we may not be able to successfully partner with third parties to implement our sustainability programs; and the risk that suitable sources of renewable energy such as solar may not be available in certain areas in which we operate or at all. Readers are cautioned that the foregoing lists of risks and uncertainties is not exhaustive. This forward-looking information are made as of the date of this document and AGI disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The forward-looking information contained in this document is expressly qualified by this cautionary statement. 1"Lost Time Incident Rate" is calculated in line with U.S. Occupational Safety and Health Administration (OSHA) standards using the formula: ([number of lost time injuries in the reporting period] x 200,000) / (total hours worked in the reporting period); this metric references the number of lost time injuries per 100 employees per year, assuming a 40-hour work week and 50 weeks worked. 2"Total Recordable Incident Rate" is calculated in line with OSHA standards using the formula: (Number of OSHA recordable incidents in the reporting period) x 200,000 / (total number of hours worked in the reporting period); this metric references the number of recordable incidents per 100 full-time employees annually.
Associated Press
01-06-2025
- Business
- Associated Press
Rise Reports Surge in Fractional CFO Adoption for Global Payroll Solutions
All-in-One Payroll Platform Sees Growing Interest from Financial Leaders Managing International Teams Across 190+ Countries 'Rise is helping us grow by allowing us to easily hire new employees and contractors and not have to worry about how we are going to facilitate payroll. They just make it simple and easy.'— Jeremy Anderson CLEVELAND, OH, UNITED STATES, June 1, 2025 / / -- Rise, the comprehensive payroll and compliance platform, announced today that fractional Chief Financial Officers increasingly rely on its services to manage global workforce payments and regulatory compliance. The platform's ability to process payments in traditional currencies, stablecoins, and cryptocurrencies has positioned it as a preferred solution for financial executives overseeing distributed teams. The growing adoption reflects broader market trends as businesses expand internationally while maintaining lean operational structures. Fractional CFOs, who provide strategic financial leadership without full-time executive costs, face mounting challenges in managing multi-jurisdictional compliance requirements and diverse payment preferences across global workforces. These financial professionals handle everything from cash flow forecasting and financial modeling to regulatory compliance and investor relations, often working with teams spread across multiple time zones and currencies. Rise addresses these challenges through its comprehensive suite of services designed specifically for global workforce management. The platform's Agent of Record (AOR) service protects companies from misclassification penalties by serving as the legal agent for international contractors, with contractors signing directly with Rise to insulate businesses from legal liability. This service, priced at $400 per contractor monthly, includes contractor onboarding in 190+ countries, compliant agreements, classification checks, tax form generation, and ongoing compliance monitoring. The company's Global Contractor Pay service has revolutionized how fractional CFOs manage contractor payments across international boundaries. Financial leaders can fund payroll operations using USD, USDC, or USDT, automate recurring payments, and enable contractors to withdraw funds in their preferred local currency or cryptocurrency. The service provides instant payouts in over 90 fiat currencies and 100+ cryptocurrencies, automated tax reporting capabilities, and smart contract automation for milestone-based payments. The transparent fee structure offers options of $50 per contractor monthly or three percent of payment volume. For companies requiring full-time international employees without establishing local entities, Rise's Employer of Record (EOR) service manages comprehensive employment responsibilities, taxes, and benefits. Currently available in the United States, United Kingdom, and Canada, with expansion planned to over 60 countries, the EOR service starts at $399 per employee monthly. The service includes competitive benefits packages, crypto-compatible retirement plans, and complete tax and compliance handling. Additionally, Rise EOR enables employers to offer both daily payroll options and earned wage access programs. The platform's Direct Payroll service caters specifically to United States-based teams, simplifying payroll operations through automation, compliance management, and flexible pay schedules. Teams can receive payments in USD, stablecoins, or cryptocurrencies on bi-weekly or monthly schedules, access comprehensive benefits and healthcare marketplaces, and enjoy easy employee withdrawals in fiat or cryptocurrency formats. Recent client testimonials highlight the platform's transformative impact on operational efficiency and strategic financial management. Jeremy Anderson emphasized Rise's role in facilitating business growth by enabling easy hiring of employees and contractors while eliminating traditional banking complications through USDC deposit capabilities. Daniel Keller praised the platform's ability to serve companies with global contractors and employees, highlighting Rise's blockchain technology integration and streamlined setup processes. Another client testimonial revealed increased team satisfaction with Rise's flexible payment options, noting that team members appreciate the ability to receive monthly payments in cryptocurrency through various wallet options. These endorsements reflect broader industry recognition of Rise's role in modernizing payroll infrastructure for contemporary workforce needs. The platform's automated compliance features address critical pain points for fractional CFOs managing complex international operations. Global compliance coverage spans 190+ countries, eliminating regulatory missteps and costly penalties while ensuring alignment with local laws and tax requirements. The dual treasury and payout options provide financial operations agility, enabling seamless payments to employees and contractors in their preferred currencies to attract top global talent. Rise's emphasis on speed and simplicity allows onboarding in minutes, automates tax form processing, and manages contracts through a unified dashboard. These streamlined workflows reduce administrative burdens, enabling fractional CFOs to focus on strategic growth initiatives rather than operational paperwork. The platform's intuitive tools help teams handle complex payroll tasks efficiently while minimizing errors. Cost control remains a priority through transparent pricing structures and startup-friendly discount programs. Clients always understand their expenses without hidden fees or surprise charges, while special rates for startups help maximize budgets while accessing enterprise-level payroll solutions. Real-time reporting provides comprehensive visibility into global payroll and financial activity, offering detailed analytics and reports for informed decision-making and financial oversight. The platform's growth trajectory aligns with the expanding fractional executive market, where specialized financial leaders require sophisticated tools to manage complex, multi-currency operations efficiently. Rise's combination of traditional financial services with cryptocurrency capabilities positions it to serve the evolving needs of modern distributed workforces facing increasing complexity in global operations. Financial executives interested in exploring Rise's capabilities can access detailed platform demonstrations through the company's website. The platform continues expanding its geographic coverage and service offerings to meet growing demand from internationally focused businesses requiring flexible, compliant payroll infrastructure. About Rise Rise provides comprehensive payroll and compliance solutions for global workforces, supporting payments in traditional currencies, stablecoins, and cryptocurrencies across 190+ countries. The platform serves businesses ranging from early-stage startups to established enterprises requiring flexible, compliant payroll infrastructure for international operations. Hugo Finklestein Rise +1 9174557310 [email protected] Visit us on social media: LinkedIn YouTube X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
