Companies Revoke: HSBC and Deloitte have recently withdrawn job offers extended to foreign graduates in the UK, attributing their decision to the government’s new, stricter visa regulations.
The changes have raised the salary threshold for skilled worker visas from £26,200 to £38,700 for general workers and to £30,960 for individuals under 26 years old.
Companies Revoke Job…
The Financial Times reported that several affected graduates, who had invested considerable sums in their UK education, are now facing significant setbacks.
One graduate, who spent £50K on university fees and turned down three other job offers, is now considering returning to their home country. HSBC’s decision particularly impacts graduates in the digital innovation sector, who were set to start work in Sheffield.
Deloitte, which onboarded over 2.7K new hires last year, rescinded around 35 offers, impacting 3% of its incoming graduates.
The UK government’s policy aims to curb high levels of legal migration, prompting companies to rethink their hiring strategies. Previously, KPMG had also cancelled contracts for foreign graduates.
HSBC, seeking to navigate the new regulations, consulted with EY to assess visa eligibility, while Deloitte acknowledged that the revised criteria disqualified certain roles from visa sponsorship.
Graduates affected by HSBC’s decision received impersonal automated messages from human resources, with no further explanation provided.
HSBC stated that compliance with market regulations was necessary and assured that they are in discussions with the impacted individuals. Meanwhile, Deloitte and EY have refrained from commenting on the matter.
Also Read:EU Hikes Schengen Visa Costs