>Higher US staff costs will hurt margins of IT companies
>Crisil findings show that IT margins may contract by up to 80 basis points in FY20.
>PUNE: Indian IT firms may see margins contract by as much as 80 basis points in the 2020 financial year as they increase hiring locally in the United States, their main market, according to Crisil Research.
>Traditionally, Indian firms have used the H-1B visa route for onsite workers, but increased restrictions by the US have forced these companies to hire locally, where wages are 25-30% more than workers who come on short-term visas.
THIS IS GREAT NEWS. American senior devs have been put out to pasture for cheapass transient H1Bs that send our money home to India.