A union-aligned investment group has asked Amazon, Walmart, and Alphabet to explain how US President Donald Trump's immigration policies are affecting their businesses, according to letters seen by Reuters.
The requests focus on new rules for H-1B visas and a $100,000 fee for visa approvals, which could disrupt the hiring of skilled foreign workers critical to these companies, NewsAZ reported.
SOC Investment Group, which owns less than 1% of each company but holds millions of shares in total—including 31 million in Amazon, 17 million in Walmart, and 41 million in Alphabet—sent the letters on Wednesday.
The group has a history of using shareholder proposals to push companies for racial-equity audits and greater disclosure about lobbying.
"The availability of labor that's skilled in the area ... is really critical to the long-term performance of a company," SOC Executive Director Tejal Patel said.
"If they're not able to keep up with consumer demand or competition because they can't hire the right people, it poses a threat to the company's value over the long term."
This is what happens when labor policy is written for shareholders instead of workers.
— Hany Girgis (@SanDiegoKnight) December 10, 2025
$35B invested. Heading to $75B.
1 million jobs created.
None of them for Americans.
Meanwhile in 2025:
Amazon filed 12,391 H-1B approvals (4,644 brand-new).
and cut 14,000+ U.S. corporate… https://t.co/i6ZtgYiOwS pic.twitter.com/vnQ3BjmH3T
Shareholder Group Questions Impact of Trump Visa
The letters also seek information about how Trump's immigration policies, which have included farm raids and stricter visa rules, are affecting sectors like trucking and farming—vital components of Walmart's supply chain.
Changes to H-1B visa rules, which took effect in September, have already caused concern in places like Silicon Valley, New York, and California, where thousands of immigrants, especially from Asia, work in tech and financial sectors.
Some companies have even considered moving jobs abroad in response.
While the proposals SOC submitted for next year's annual meetings are advisory, companies often respond if a resolution receives significant shareholder support.
According to Reuters, Patel said SOC hopes for a "productive engagement" with the three companies but noted that litigation remains an option if the requests are ignored.
The letters come shortly after Trump signed an executive order directing regulators to consider rules that could make it easier for companies to dismiss shareholder proposals, including those filed by SOC.
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