Xbox CEO appointed to Fed jobs task force amid layoff controversy
8 reported
Asha Sharma, CEO of Microsoft’s Xbox division, was appointed Thursday to a new Federal Reserve task force on productivity and jobs, despite recent backlash over layoffs at her company. Microsoft announced it will lay off 4,800 workers, including 1,600 from Xbox, while being approved earlier this year to hire 2,273 foreign H-1B visa employees, according to USCIS data. The Federal Reserve appointed Sharma to the task force alongside Andreessen Horowitz co-founder Marc Andreessen and Stanford economics professor Charles I. Jones. Federal Reserve Chairman Kevin Warsh stated the task forces will consider whether policy approaches can be improved. Critics online accused the Fed of incentivizing layoffs of American workers in favor of foreign hires, with some comments referencing Sharma’s Indian heritage. Vice President JD Vance announced a separate investigation into H-1B visa fraud, saying the Department of Labor has started subpoenas and investigations. Microsoft stated the layoff decisions are based on business need, not visa status, and that H-1B employees were also affected.
What’s reported
Asha Sharma, CEO of Microsoft’s Xbox division, was appointed to a Federal Reserve task force on "Productivity and Jobs" on Thursday.
Microsoft announced layoffs of 4,800 people total, including 1,600 from Xbox.
Microsoft was approved earlier this year to hire 2,273 foreign H-1B visa employees, per USCIS data.
The task force also includes Marc Andreessen and Charles I. Jones.
Federal Reserve Chairman Kevin Warsh said the task forces will examine policy approaches.
Critics online accused the Fed of incentivizing layoffs of American workers for foreign hires.
Vice President JD Vance announced a federal investigation into H-1B visa fraud, with subpoenas and investigations started by the Department of Labor.
Microsoft stated layoffs are based on business need, not visa status, and that H-1B employees were also impacted.
Key figures
Asha Sharma, CEO of Microsoft’s Xbox division
Kevin Warsh, Federal Reserve Chairman
Marc Andreessen, Andreessen Horowitz co-founder
Charles I. Jones, Stanford University economics professor
JD Vance, Vice President of the United States
Sources: foxnews.com
