Capgemini (EU:CAP) saw its shares decline up to 3% on Monday following U.S. President Donald Trump’s announcement of higher fees on H-1B visas, a move that could affect the global IT services industry.
The new proclamation, signed Friday, requires a “$100,000 payment to accompany or supplement H-1B petitions for new applications,” a notable jump from the current fee structure.
A White House post on X over the weekend clarified that this change does not apply to existing H-1B visa holders.
U.S. Citizenship and Immigration Services data show that Capgemini ranked as the 11th largest H-1B employer between fiscal year 2016 and June 30, employing over 30,000 workers through its U.S. subsidiary during that timeframe.
Bernstein analyst Richard Nguyen, who has an outperform rating on the stock, remarked, “Trump’s policy could disrupt some onshore projects in the U.S., make pricing negotiations with customers more difficult, and require additional cost adjustments.”
Nguyen also noted that Capgemini may mitigate the impact by leveraging offshore resources, adding that the company “has already decreased its reliance on H-1B workers over the past five years.”
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