The way business is done in the USA these days - from Wolf Street:
Dell-EMC to Lay Off 2,000 – 3,000 US Workers after Requesting 5,000 H-1B Visas & Green Cards to Import Foreign Workers
The ink was barely dry on Dell’s acquisition of EMC, the largest technology deal ever, valued at $67 billion when it was announced in October last year – and already the layoff rumors are oozing from the woodwork.
“People familiar with the company’s plans” told Bloomberg that Dell will cut 2,000 to 3,000 jobs.
EMC used to make decent stuff - I used a lot of their arrays at MSFT 18 years ago. They got sideswiped by the cloud. And the foreign workers coming over?
Between 2014 and 2016, Dell applied for 2,039 H-1B visas and 256 Green Cards. EMC applied for 2,347 H-1B visas and 453 Green Cards, for a total of 5,095 applications.
These are just applications. Not all of them will be certified, and of those that are certified, not all beneficiaries will be hired. But the data for 2016 isn’t complete yet either.
It’s the hot thing to do for tech companies: laying off existing workers in the US, and bringing it foreign workers on H-1B visas. The Senate has been looking into some of the abuses. In February, Senator Richard Blumenthal (D-Conn.) sent US Attorney General Loretta Lynch a letter requesting a Justice Department investigation. But the tech lobby will likely get the Senate back on track soon.
But Dell needs to save some money, one way or the other. Dell’s corporate credit rating is at the upper end of junk. It’s loaded to the gills with debt, stemming from when it was taken private. Now the EMC deal has piled new debt on the company, including $20 billion of bonds it sold in May, followed by a $5-billion leveraged loan
Does not look good for Dell - they used to make good stuff too. Managers are focusing on the bottom line without realizing that these people coming in have only a fraction of the skills needed to perform their jobs and whose English language skills are, at best, minimal. This is a fad and when it runs its course, all the good solid IT people will be gone. Some big shakeups in the not so distant future.
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