alt Hacker NewsH1B is used to hire the best talent that gets paid big bucks as well as cheap talent that is paid less. Both are true. It depends on the company.
I haven't seen Google or FB or Amazon or other top tech companies pay H1B any less. They get paid pretty well.
But firing people (some might be on H1B too) and hiring H1B at the same time is meaningless.
Btw, if you want to stop people from getting fired, J Powell needs to be fired. He is keeping interest rates high for any sort of hiring. These same companies hired like crazy during 0% interest rate environment.
Lowering interest rates to juice the economy is done when unemployment rises … which hasn’t happened yet in the wider economy.
Juiced economy and free cash is what led to massive inflation. Powell is trying to save hay until winter - when we get a recession the interest rates cuts are the only knob he has to turn to soften the blow.