Thread regarding Charles Schwab Corp. layoffs

@7ft Alternate letters to make up two words.

@7f7 Hired just as RTO was announced with no clue how many of that web site visitors would be coworkers. Really is sad. Then I came to this site and read all the H1B and India comments. Yikes.

@7f7 omg that’s funny. they are really both. the tds thing is so ironic. i know you are but what am i vibes. weird.

@7fj ? I don’t get it.

@7f7 best url on the Internet

@7an

USMCA replaced NAFTA. Trump said it was the “best agreement we’ve ever made” when he signed it in 2020. In February, Trump said “Who Would Ever Sign A Thing Like This?”

Anyone criticizing NAFTA today failed to receive their updated guidebook, National Authoritarian’s Zany Index. You can get the update at rbaicgiostt.org.

@4tc the odor was special

@OP

Tariffs are intended to return jobs to the U.S.
Taxes on remittances are intended to stop $$ from imported labor being shipped to the worker's "home" country.

Interesting that rich, virtue-signaling Americans cry about fair trade products but research nothing.
Check your grocery store and you'll find shrimp from Asia (mostly Indonesia and China...ugh, from those polluted waters) and not from the U.S. There is an enormous amount of slave trade fishing those products - Americans don't care so long as it's cheaper.
Same for coffee and flowers
https://www.smithsonianmag.com/travel/the-secrets-behind-your-flowers-53128/
https://novelhand.com/colombian-cut-flower-industry/

And, of course, who can forget the China slave trade for things like iPhones.

@sp H1B doesn't bring one employee, or even a couple and their kids. It brings many more family members to the U.S.
Schools are impacted with additional ESL staff and larger classrooms/schools.
Many H1B get low-income housing (especially in the NE) and other tax-funded benefits.

Colleges/universities crying for more F-1 visas (feeder for H1B) for students have large endowments but live off taxpayers. The F-1 visas are a scam with many H1B cheating to get in. There's plenty of evidence of this cheating, and of corrupt Indian companies driving this activity (Infosys, TATA, etc.) and L-1 companies set up to infiltrate the U.S.

@cc You don't know what you're talking about. Stop the insane TDS and start researching. There's a huge groundswell of support for ending H1B and other corrupt visa programs. The time is now and everyone must work together to get it done! You're probably so focused on your tech job that you don't understand how many other industries have been ki-led by NAFTA and other legislation.

Trump is on board trying to bring manufacturing and jobs back to the U.S. The 100K fee for H1B is a start. There's much more to do, but crooked U.S. Congress members must vote on the changes.

from an X post today (9/26/2025):
Charles Schwab is opening a Schwab India center. In the midst of a new CEO hiring a consulting firm to find inefficiencies and cost saving opportunities, they have found 1 billion in cost savings, and a big portion of it to them is going to be the Schwab India center. Seems like the writing is on the wall for American workers at Schwab... Even asks for Americans to travel there and help with the transition, AKA training our replacements.

Join the H1B conversation on Twitter. View H1B data on https://guestworkervisas.com (pulled from U.S. government data and parsed)

Go to jobs.now to see PERM listings (PERM are green card listings for H1B only and are usually hidden to others, including internal company applicants). If an American applies for the open PERM position, it's no longer open to H1B.

The 100K fee for new H1B applications is just the beginning. We must END H1B, L-1, OPT, and all other corrupt U.S. visa programs! Contact your local, state, and federal representatives and tell them H1B must end now!

None of the people I worked with who had an H1B visa were special. Those jobs should go to the large number of Americans being laid off right now.

There is nepotism by some Indian managers at Schwab.

@zz Good morning sir!

@t5 Can confirm, I saw some of these posts with no downvotes suddenly receiving 15 downvotes all at once. Seems some H1Bs found this topic. Sorry guys, you should not have been given this position, the only reason you were is because the company wants to make a few more bucks by hiring you over a native.

The H-1B program can be legally terminated, as there is no doubt about its abolishment being within the scope of U.S. law. Additionally, if global economies move toward de-dollarization, the program could be ended swiftly. The key question is: what would be the economic and geopolitical consequences for the United States if the world were to stop using the U.S. dollar?

That's why pure capitalism is not the answer. Capitalism absolutely needs to be heavily regulated, and no, it's not socialist/communist of me to say that. These are the decisions that are made when money rules everything in an unchecked manner.

@sp Who cares. There should be a responsibility towards American citizens first. Not one person who I work with at Schwab who has an H1B visa is brilliant enough to take a job away from an American citizen. There is obviously discrimination going on by managers only hiring from their own countries.

Anyway, it seems like someone who did not like the post started downvoting it heavily.

You’re right. That’s not how the world works.

1.  Impact on U.S. labor market
•   Multiple studies (including from EPI and some GAO reports) have shown that in certain sectors, especially tech, H-1B visas can be used to suppress wages for domestic workers by providing a steady pipeline of cheaper labor, sometimes undercutting market rates by 20–40%.
•   This can discourage companies from investing in training or hiring U.S. graduates, and in some cases leads to age discrimination against experienced U.S. workers.
2.  Not always “top talent”
•   The H-1B system is often promoted as bringing in “the best and brightest,” but in reality, many H-1B roles are entry-level or mid-level positions that could be filled domestically.
•   The lottery system means visas aren’t necessarily going to the most skilled — just to applicants whose companies flood the pool with submissions.
3.  Dependency and exploitation
•   H-1B holders are tied to their sponsoring employer, which can create leverage for the company and lead to exploitation. This can also reduce mobility in the labor market, harming overall wage growth.
4.  Housing market distortion
•   While H-1B workers buying homes may help sellers, in already strained housing markets (Bay Area, Seattle, Austin, etc.), additional demand from well-paid H-1B families can push prices up further, making it harder for locals to afford homes.
5.  Economic “net benefit” isn’t always clear
•   The claim of $40k average lifetime spending for attorneys/government fees is not a general economic boon; much of it goes to legal/admin overhead rather than productive goods or services.
•   If similar jobs were filled by U.S. workers, that spending (including salaries) would still flow into the economy — and without visa-related legal costs.
6.  Offshoring pipeline
•   Some firms use H-1B hires as a stepping stone to shift work overseas — training workers in the U.S. who later manage or transfer jobs abroad. This can lead to a net job loss for Americans over time.
7.  Consumer spending argument is circular
•   The “Costco would shut down” comment is humorous, but the reality is: if those jobs were filled by U.S. workers earning competitive wages, consumer spending would still occur — likely at a similar or higher rate, since those workers wouldn’t be sending significant remittances overseas.

Unfortunately that's not how the world works. If it does, Schwab should pull back operations anywhere outside the US, as those nations could also opt and not do business with Schwab which is US based. One cannot simply get profited by another nations but hire only locals. Stop hiring H1Bs? I will give you list of areas that will plummet with that decision:

1. Less intake of international students - less spending in businesses around universities. Less occupancy in rentals/ apartments around universities. There are some small towns which just live off of international students.
2. Each H1B holder spends on an average of $40k in their lifetime before they get citizenship. This goes to the government and the attorneys, to the economy.
3. Housing - H1Bs buy houses, spend for their kid's after schools, helps build suburbs.
4. Travel and shopping- vacations, flights, trips back home once a year, and the money flowing into the economy by shopping.
5. Automobiles - on an average, 2 cars per H1B family.
6. To end it on a humorous note - Costco would be shutdown if H1Bs stop shopping there.

Where did you pull the 47% from?

Robots working overtime to silence this post.

“Hate” post. How is it hate? Please explain why we need H1B workers when there are thousands of qualified Americans looking for jobs. Don’t be so naive. You know the reason. It’s cheap labor. There is nothing “hateful” about the truth.

Hate post. This is what they want us to do, to hate each other and fight among ourselves . What does RTO4 has anything to do with H1B? OP is trying to divert the current RTO4 frustration into H1B hate. Don’t fall for these tactics.

@OP Agree! I've been saying this for months and months. Have emailed my representative several times, and the white house to tax these offshoring corporations an additional 47%.

You know Chuck chugs the orange c**k, right? Paid a bunch of his legal fees back in the first term and his grand daughter is in the Treasury so nothing is going to happen to this cr-ppy company until the Cheeto is gone.

I agree. Insofar as we individual consumers have power we should strive to support those businesses who in turn support America. But I think it’s important that government starts turning its eyes inward, to stop the hollowing out of what remains of the American middle class. If there is an American company on American soil it should be staffed by Americans, unless there are ACTUALLY none that can do it. Businesses need to start being punished for seeking to save a buck at the expense of American labor.