For Indian techies, is it the end of the great American dream?
The majority of techies are having trouble finding work because virtually all top organisations have frozen new hiring due to the recession fears and the thousands of techies who have lost their employment at Big Tech companies. Other tech businesses including Amazon, Salesforce, Meta, Uber, and others have stopped hiring completely and laid off staff. The majority of laid-off IT workers found new jobs within three months of beginning their hunt for a new position, which is encouraging news for people who have lost their careers due to the prolonged financing cold and global macroeconomic conditions.
According to a ZipRecruiter poll, roughly 79% of fired employees in the tech sector found new employment within three months. According to the report, less than a month after starting their job hunt, nearly four out of ten previously fired computer employees secured employment. However, 2023 is predicted to be the worst year for IT layoffs, and people with H1-B visas might no longer be able to find employment. In late 2022, several employees of indian descent were left without employment.
Now that Amazon, Salesforce, and google have all recently announced layoffs, numerous H-1B visa holders will find themselves in a dangerous situation. Again, they will have 60 days to find employment or leave the country, terminating their pursuit of the American Dream. Meanwhile, under a proposed US Citizenship and Immigration services (USCIS) fee rule, the application fees for employment-based visas, such as H1-B and L, are expected to increase in order to recover operating costs and avoid case backlogs.