US visa changes will hit profit margins by 2.5%: L&T Tech
L&T Technology has said its pre-tax profit margin may be hit by up to 2.5% if US doubles minimum salaries for H1B visa-holders to $130,000. The company is working on alternatives, including shifting jobs to India. L&T will either have to reduce reliance on onsite workforce in US that accounts for 63% of revenue, or hike billing, the company said.