Companies warn SEC that mass deportations pose major economic risk
As the Trump administration executes an aggressive deportation campaign across the United States, a growing number of US companies warn that the crackdown could threaten their operations.
Since January, more than 40 companies have mentioned the impact of deportations in filings to the US Securities and Exchange Commission, with many saying it could hurt the labor force, increase the risk of a recession, or create more economic uncertainty, according to 74 filings reviewed by WIRED. The impacted industries span a wide cross-section of the US economy, including food production, tech, and construction.
“Many farms employ hard-working, non-criminal employees who have not yet achieved legal citizenship,” reads one filing from ImmuCell, which develops and sells drugs for animals in the beef and dairy industries. “Significant deportations of these individuals could have a negative impact on the operations of our customers and of our source farms.”
It’s highly unusual for companies to mention deportations in filings to the SEC. Between June 2020 and January 2025, just six SEC filings mentioned deportations. From June 2015 to January 2025, that number rose to 22. [Continue reading…]