‘I have 3 H-1B guys and will phase them out,’ manager reveals the dark side of $100K rule in companies

H-1B visa system has recently undergone a complete overhaul, with the application fee soaring to $100,000. This change has sent shockwaves to new applicants, current visa holders, and countries alike.

A managing director at one of Wall Street’ s leading bulge bracket banks has opened up about on social media regarding the ripple effect caused by the $100K rule on H-1B visa holders in the industry.

The new directive impact companies hiring foreign workers which mandates that employers must pay $100,000 as the application for H-1B visa.

However, according to the director’s recent social media post, the rule is creating unexpected challenges in budgeting and workforce management.

What does the post explain?

Managing director shared that talent acquisition teams received communicatio