Last year, U.S. Bank made a decision that hasn't been widely reported: they chose not to renew H1-B visas for a number of their H1-B staff (~80%). This action, which technically amounts to a termination, is based on the date when these employees initially entered the country or started their jobs with U.S.Bank (3 year Visa term).
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Where did you get the 80% number? Is it tracked and visible?
@OP U.S. Bank's Management Committee (MC) logic is straightforward and cost-effective for RIF processes.
H1-B visa employee: Wait until their H1-B visa expires, which is typically three years from the day they joined U.S.Bank, and provide a advance 90-day notice period of no visa renewal. This is technically not termination and avoids costs associated with severance and labor department fees.
For non-H1-B visa holders, we know the process is consistent with other banks and corporations, and U.S. Bank follows the same protocol.
@ae would sit in the eye of a hurricane proclaiming how glad they are it's all over 😆
Yeah, definitely signs at this point indicate non re-hiring current H1-B workers when the current visa expires. So all H1-B need to fear for their job and family (good luck getting a tech job in this market, and especially one with H1-B) and all US citizens need to fear for their job, because it's very clear they intend to replace everyone with cheap offshore labor, regardless of the quality of the product produced as the only number that matters is cost per head.
Who knows, maybe McKinsey told Funjan people work better under duress. Disappointing to say the least. The foreign diploma mills will be working overtime to produce workers at 1/10 cost who actually perform their job better than their US counterparts since the main job requirement is sitting in a desk. That's actually one of my highest annual performance goals for this year, so obviously the most important thing is RTO and that's why these workers in another continent are essential to the face to face communication that has built this company for generations.
@ae you do realize this doesn't matter because they're sending all the jobs that used to be filled with H1B visas to the GCC in India, right? So no. Not good
Good