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Agony mounts for Telugus in US after spherical 2 layoffs | Hyderabad Information – Instances of India

HYDERABAD: The second bout of layoffs within the US that began earlier this month, has left the Telugu group rattled. A number of professionals, together with newly graduated college students from each Telugu states have been hit by downsizing, pushing native associations to leap to their rescue.
In keeping with the Telangana American Telugu Affiliation (TTA), at the very least 1,500 Telugu professionals within the US have misplaced their jobs to this point.
“The tough half is that these layoffs have been steady and throughout all main firms like Fb, Amazon, Google and Microsoft. This has left folks with only a few choices to use for contemporary jobs,” mentioned Vamshi Reddy Kancharakuntla, the newly elected president of TTA. In keeping with his estimates, there are about 70,000 odd job seekers available in the market presently.
“The state of affairs is kind of unhealthy and is predicted to worsen over the subsequent few weeks as a result of the hiring course of goes at a gradual tempo. I’ve been receiving a number of calls on daily basis from folks looking for assist,” mentioned Vamshi Reddy. The affiliation has now arrange teams throughout social media platforms to attach job seekers with firms and even counsellors.
Together with shedding jobs, the largest concern for the professionals are mortgages and visas.
“Many Indians, particularly these in Seattle, have purchased houses. A number of amongst them have opted for variable loans and the mortgage has doubled in three-four months owing to rising rates of interest. So, in the event that they paid $3,000 as a mortgage till mid 2022, it has now shot to $7,000,” defined the TTA president, including what number of are actually speeding to their banks to hunt assist as their mortgages and salaries usually are not in steadiness.
Amid this, there’s additionally the restricted 60-day grace interval sword hanging over their heads. “Majority of these impacted are H1B visa holders with households within the US. The layoff will affect all of them, together with kids’s education and spouses jobs, as they’ve solely 60 days to search out new employment. Else, they will have to depart the nation. This coupled with monetary issues have left them extraordinarily troubled,” mentioned Ravinder Reddy, vice-president of Washington Telangana Affiliation which too has been flooded with misery calls.

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