A surprise executive order by President Trump significantly increases the cost of H-1B visas to $100,000, impacting tech and finance companies like Amazon, Microsoft, Meta, and JPMorgan. Companies are advising H-1B employees already in the US to remain there, while those abroad are urged to return before September 21st to avoid potential re-entry issues. The order aims to ensure only highly valuable foreign workers are hired, prompting significant disruption within the US tech sector heavily reliant on H-1B visa holders.

Prepared by Christopher Adams and reviewed by editorial team.