NEW YORK, Dec 18 — A union-aligned investment group has demanded that Amazon, Walmart, and Alphabet report on the financial and operational risks posed by President Donald Trump’s immigration policies, particularly proposed changes to the H-1B visa program for skilled foreign workers.
SOC Investment Group, which holds less than 1% stakes in each company, sent letters to the boards on Wednesday calling for detailed assessments of how these policies could affect finances, supply chains, and workforce strategies, according to documents exclusively reviewed by Reuters.
The companies are among the largest recipients of H-1B visa approvals, relying heavily on foreign talent in technology and engineering roles. SOC highlighted Trump’s campaign proposal for a $100,000 fee on new H-1B petitions, warning it could drive up costs, limit talent access, and prompt job relocations away from U.S. tech hubs like Silicon Valley and Seattle.
“These policies threaten material risks to operations and competitiveness,” SOC wrote, urging the firms to disclose mitigation plans and potential exposure in upcoming proxy statements.
The push comes amid broader industry anxiety over Trump’s immigration agenda, which emphasizes stricter enforcement and higher barriers for foreign workers. Tech giants have historically lobbied for expanded visa programs to fill skill gaps, but proposed fees and restrictions could force restructuring, including offshoring roles or intensified domestic recruitment.
SOC, known for activist shareholder resolutions, has previously secured victories compelling companies to conduct racial-equity audits and increase lobbying transparency. While its small stakes limit direct influence, such proposals often gain traction from larger institutional investors.
None of the companies immediately responded to requests for comment.