Bank of America Withdraws Job Offers to MBA Graduates
By HSB
Bank of America is one of the TARP companies. New H1B rules were signed into law, that imposed strict hiring restriction by TARP companies for H1B workers. As a result Bank of America was the first company to cancel the Job offer to MBA graduates who require H1B Visa sponsorship.
Its expected all the major bank that come under TARP Companies receiving bailout money will cancel the job offers they have made to International students. Even though the law doesn’t say they cannot hire workers in H1B visa, but it requires companies to provide lots of documentation to prove they couldn’t find American workers to fill that position, which make its difficult for those companies. This restrictions will be for 2 years { 2009 to 2011 }
Related posts:
- Impact of Current H1B Workers in TARP Companies
- Bill To Restrict H1B Hiring to All Companies?
- Obama Signs Stimulus Bill; New H1B Rules are Included
- List of TARP Companies Receiving Stimulus Bailout Money
- New H1B Rules Removed by Obama?
That is a bad situation for thousands of highly qualified MBA grads from overseas. The past couple of years fresh grads are given EAD with 29 months validity, shouldn’t that last long enough for them to continue employment until 2011? Can these people with a job offer from such banks use that as a leverage before giving away their job offer?
Bala – Only about 88,000 companies can get 17 months OPT extension. Majority of companies are not enrolled in E-verify program so students cna get 17 months OPT. ther eis misunderstanding among students that everyone get 29 months OPT. MBA students only get regular 12 months OPT.