The CEO of a prominent US gaming brand has been appointed to a high-level Federal Reserve task force despite ongoing criticism over her company's recent layoffs and hiring practices.
Asha Sharma, who heads Microsoft's Xbox division, announced the layoffs earlier this week, which will affect 4,800 employees. The company had been approved to hire 2,273 foreign H-1B visa employees earlier this year, sparking outrage among critics who claim the move replaces American workers with foreign visa holders.
Despite the backlash, the Federal Reserve moved forward with appointing Sharma to a task force on "Productivity and Jobs" alongside other notable figures, including Marc Andreessen and Charles I. Jones. The task force aims to improve the central bank's performance and consider whether policymakers' methods can be improved.
New Federal Reserve Chairman Kevin Warsh praised the appointees, stating that the bank's commitment to price stability and maximum employment is unwavering. He added that the task forces will carefully consider whether policymakers' methods can be improved and praised the appointees for their willingness to work with the institution.
However, critics continued their tirades against Sharma and the Federal Reserve, claiming that the move incentivizes mass layoffs of American workers in favor of foreign ones. Some also raised concerns about the racial component of the H-1B visa program, which brings in workers from countries like India.
Others questioned Sharma's qualifications for the role, pointing out that she has no finance or economic experience. Microsoft responded to the criticism, stating that the layoffs were based on business need, not visa status, and that H-1B employees were also impacted by job eliminations.
Vice President JD has launched a large-scale investigation into H-1B visa fraud, with the Department of Labor issuing dozens of subpoenas and investigations into foreign fraudsters who are trying to take advantage of the program.
The controversy surrounding the Federal Reserve's appointment of Sharma and Microsoft's hiring practices continues to spark debate and outrage among critics who claim that American jobs are being taken by foreign visa workers.
