Wells Fargo, a TARP recipient who bought Wachovia, is now forcing U.S. workers to train their foreign guest worker replacements before being fired. So is Bank of America.
Are you thinking wait a second, weren't those banks given billions and billions in U.S. taxpayer dollars? Aren't they supposed to first consider U.S. workers for jobs in the United States? Weren't Bank of America and Wells Fargo made H-1B and L-1 guest worker dependent employers by legislation recently passed by Congress?
Think again. It's almost beyond reason the desire by multinational corporations to replace Americans with foreign workers. In their continual quest to labor arbitrage Americans, of course TARP banks found a loophole around the new law! All they have to do is use contractors, little body shops claiming to be a business who provide the foreign guest workers and wala, job done, one can replace employees with foreign guest workers!
Let's amplify this more:
While taking U.S. money these companies insist on firing Americans and hiring foreign guest workers
Remember, while receiving TARP money, Citigroup as well as other signed multi-billion dollar offshore outsourcing contracts as well.
The loophole is that a Charlotte business can use third-party consultants to find workers in other countries instead of hiring foreign workers directly. Those consultants provide foreign workers their H-1B Visas, fly them to Charlotte and pay for their apartments before sending them to work in a local job. But because the Charlotte business is paying that contractor and not the employee directly, it's not a violation of the bailout law.
If an American has to train someone to take their job...obviously there is no skill shortage.
The Wall Street Journal is literally asking you to post your story on career arbitrage from foreign guest worker Visas.