Thread regarding Charles Schwab Corp. layoffs

I am tired of foreigners taking American jobs. You all can wax endlessly about how many incredible engineers have come over, I don’t care. Americans should be working these jobs. Companies that make BILLIONS further diluting American labor so they can make more pennies should face legal consequences. This must stop.

@7eh really .. if you talking about h1b/l1-c (manager fraudsters) / OPT.. Then you are taken for ride.

Most contractors I worked with were the rockstars of the teams they were on.

@190 it is still a cult , it need to be dismantled this is regarding point (h)

@23r Here is a reality check: most non–national interest jobs can be outsourced to where labor is cheaper. In countries like India, it costs one-fourth or one-fifth of what companies need to pay in the USA. Offshoring will not stop—that is the reality.

Even jobs are getting outsourced from India to Southeast Asia or even countries like Egypt. Capital always moves where work is cheaper.

The only option I see is stricter US visa approval standards for both in-country and out-of-country processing, with a high benchmark such as a $200K threshold for H-1B, L-1, and other work-authorized visas, ensuring only top-tier talent is approved.

At Schwab, there are many EB-3C manager visa holders from the contractor side, which needs to be curtailed. Many operate through manipulation, creating inefficiencies and misrepresentation while doing business.

As far as IT is concerned, it is similar to the finance job disruption in 2008. The AI revolution is what 2008 was for banking.

I dream of the day hiring of foreigners to fill jobs in an American company is banned. We should not be hiring people from other countries in any role unless there are zero Americans that can do the job.

@1py This for high skilled people who cannot do ther ejob

Professionals on H1B/L1 visas are designated as high-skilled. True expertise is demonstrated by the ability to independently implement solutions and deliver at critical moments. Visa Full-time employees may be eligible for transfer to GCC locations in Hyderabad, India if they cannot do there job

LMAO do you know how contractors are treated!??? You should try coming into that place as a contractor. Zero training, millions of processes that the FTEs don’t even understand, ignored, left out, set up to fail, treated as second class citizens. The worthless FTEs are either good to do the work they want contractors to do themselves or to d-mb and lazy to figure out how to do it. You should try it for a day. It’s awesome!

@1fa There are few who will spend a ton. You may be right, but is that few? What does that percentage represent in total numbers?

2021: 80,451
2022: 115,115
2023: 130,730
2024: 86,000
Total = 412,296 visas issued

Now let's say it's 10%. That would be 40,000. Is that a small number from a single country?
Are you giving discounts for run-off-the-mill diplomacy factories?

Remove the incentive:
OPT, taxes and other loopholes

By the above point, you can say legally you're good.
But what about morality? There is no official document of morality. In Schwab with many desi vendors, I've seen non-computer science or even arts, non-STEM academics doing H1B jobs. What have they done?

Now days OnlyF-ns people are getting EB1-A visas.

similar non-STEM, non-CS people are getting EB1-C using desi company. What about that?
In you team how trying to manager or leader , in short they want EB1-C, if you say Goverment should remove Eb1-C they face will turn white.

Yes, many are good, but that goodness is a very small number. They will make their way without a US degree because if they're good. They don't need a US degree to do the job.

You can find fraud people in personal interviews if you ask technical questions, this seems just conext of experience on certain tech. Tech is shifting towards AI. If a person is a good prompter and knows what they need and how to backtrack, they don't have to write a single line of code. Post-Schwab, I have NOT touched code but have taken million-dollar products to market with success and with fewer and fewer people.

You're wrong on business strategy for offshore vendors. They play the following things:

Create backup teams
Train and skill new people who may never come to the USA and keep costs down for replacement and learning
People who come come at level 1-level with 10+ experience on the same tech, same people and same company with lower pay in US context but high pay in Indian context

So the answer is not straight.

@1dq people who spend tons on multiple masters are just a few percentage out of the bunch. There are genuinely great candidates (legal & morally right) in this country. Hire American or people who genuinely have skills and graduated from a US school.
You can find frauds by having in person interviews. A handful of tech questions will help know if the candidate really has experience/knowledge or not. I don't think we need someone from outside the country to do a job at Schwab (talking about Infosys and other desi vendors moving people from offshore to the US). We have enough graduates here.

@191 can you be moved to GCC in Hyderabad. Will you go, or jump ship to get your I-140 approved?

Stop lying. Trying to be smart. A pattern is well documented on how H1B works.

As far as technical skill, there are many tools which can code, test, and develop without human interaction. After leaving Schwab, I worked in major banks. We use screenshots from Figma to develop whole code bases without even touching code.

@1ap E Point E and G are different:

Hiring people directly
Hiring someone you've worked with

In point 2, you can assess both skills and character. In point 1, you just guess what the person is like.

Hire American? Yes, but will they work entry-level with 15-20 years of experience who moved without filing a single paper? That's reality in filing, and what all desi contractor companies do. If you have a company, will you hire 15+ years experience at entry level or hire that experience at executive level? Think it's pure capitalism.

Regarding hiring someone who invests in school minus OPT or job guarantee - that's another fraud. People enrolling in multiple master's programs to get H1B know visa loopholes, not contributions.

An H1B who spent $50k+ for a Masters degree - add one more thing: he's H1B fraud. Question is, is he better than someone who got a job at a desi company, got trained on systems, and contributes even more?

@190 your E and G seems like they contradict each other. Why would you bring anyone from outside the country for just pure coding and anything that we do at Schwab. It's not rocket science. Hire an American or Atleast any one who spent money and helped the economy of USA by graduating here.

What do you think anyone directly from India would answer to point E? It just doesn't make sense.

-- a H1B who spent $50k+ for a Masters degree and has been contributing to the economy since almost a decade.

We used to hire skilled contractors. I was one, then hired in. But policies changed, rates dropped, and contractors were no longer motivated for extensions. They focused on riding out the limit, learning, and solidifying their knowledge with another certification.

There is no hard and fast rule for finding a good contractor, especially in IT. Finding a good contractor is like finding a rock in a sh-t pit. Here are some points you should care about:

A) Do not trust those who get hired in the US directly by a contracting company.
B) Certification is no guarantee that a person has ever worked on the technology or even learned it. They can mug up and dump information to get certified.
C) Be very careful with desi contractors. They will puff up their resume to get a job, and once they are in, they won't get out easily.
D) In interviews, always look for whether the person is lying or cannot say "I don't know." If they try to spin the answer, do not hire them.
E) For desi contractors, ask what would happen if their H1B is not extended or if their green card is filed. Their answer gives you a clue about their character.
F) Do not just hire for technical skills; hire for character. Technical skills can be learned.
G) One safe way is to bring people from India who are working on the offshore team, but do not trust them completely. They will leave the job and try to become a full-time employee later on.
H) Back in early 2016, I used to work for Schwab on a team called O2. I don't even know if the team is still there or not. It was run like a mainframe cult. You can study how they were able to hold on for so long, how they handled sh---y resources, how they destroyed good people, and how they managed the shittiness. If anyone is still in that sh-t team, I would love to hear gossip about the cult.
I) Do not trust desi contractors or H1B holders; they can leave at any moment for any reason.