How there has been a shift in companies that use H-1B visas in the US, they are no longer technology companies
Silicon Valley’s drive for innovation has long relied on the H-1B visa program to attract top-tier global talent in science and engineering. However, new data obtained by Bloomberg News reveals that a wider range of industries, including banks and telecommunications companies, are among the largest users of the programme — often through staffing and outsourcing companies that secure nearly half of the 85,000 new H-1B visas issued annually. These companies, acting as visa middlemen, are reshaping the programme’s purpose, raising questions about its impact on wages and U.S. workers.
According to Bloomberg’s analysis, covering new H-1B hires from May 2020 to May 2024, Citigroup Inc. added 3,000 H-1B workers, outpacing tech giants like Nvidia, Oracle, and Qualcomm.
