Chicago seeks to attract foreigners laid off by tech companies

More than 35 companies in the Chicago region are willing to hire workers on H-1B visas, which are granted to foreign employees in specialty occupations such as software engineering. The companies have partnered with the city and P33, a nonprofit organization founded by former Commerce Secretary Penny Pritzker, to create a website listing job openings that would go live on Wednesday.

The initiative is the first of its kind and could bolster Chicago’s ambition to become a technology hub. It will also help businesses — including Caterpillar Inc., Walgreens Boots Alliance Inc., TransUnion credit reporting agency and ticket reselling firm Vivid Seats Inc. — fill the more than 400,000 open jobs in Illinois.

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“We have a real need for talent”said TransUnion CEO Chris Carwright. “We want to get the message across that there is a very attractive tech community here in Chicago. It’s vibrant and dynamic.”

technology companies like Alphabet Inc., Meta Platforms Inc, Twitter Inc. Y Amazon.com Inc.. have announced job cuts amid jitters about global economic growth. Last year, the technology industry announced 97,171 layoffs, more than 600% from the previous year and the most of any sector, according to human resources consultancy Challenger, Gray & Christmas Inc.

H-1B visas

Job cuts especially affect foreign workers. Those on H-1B visas only have 60 days to find a new position and convince employers to support their visa. The process can cost companies $5,000 to $10,000 more than hiring a US citizen or someone with a permanent residence, according to Don Garner, president of the LL.M Law Group, which focuses on immigration matters.

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The idea of ​​helping foreign workers first came up when Brad Henderson, executive director of P33, attended a dinner hosted by the American India Foundation late last year. “LThe conversation in the room was about the real concerns her community felt around the H-1B visa issues and the large number of layoffs.”remember.

Along with World Business Chicago, an economic development organization, Henderson began talking with CEOs, lawyers, and human resource specialists to find out if anything could be done.