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layoffs 2023

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Op-Ed: Hey America, The H-1B Visa System Could Harm Black People In The Workforce Too

Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. A few weeks ago, a debate surrounding the possible expansion of H-1B visas erupted on X (formerly known as Twitter). Established under the Immigration and Nationality Act of 1952, the H-1B visa program is for employers to hire nonimmigrant workers in specialty roles or other roles of distinguished merit or ability. The occupation could refer to nurses, models, and tech workers. The number of workers working in the United States on a H-1B visa has steadily increased over the past decade. Companies like Microsoft, Google, Meta, Amazon, and Apple rely on the program to stay ahead in their competitive market. Last year, Elon Musk’s Telsa emerged as one of the leading companies with H-1B visa workers. This is no surprise, as Musk has supported the program. Sharing his support for the program online drew the ire of strongholds within the MAGA coalition like Laura Loomer, who wants the program to end....

Jan 9, 2025

What To Know About Charles Schwab's Recent Layoffs

In response to evolving market dynamics , Charles Schwab, a key player in the financial services sector, recently implemented a significant workforce reduction in November 2023 . The layoffs affected approximately 5% to 6% of its employees, totaling around 2,000 individuals. The decision is part of a broader cost-cutting strategy aimed at enhancing the company’s efficiency and competitiveness. Charles Schwab’s Workforce Reduction A spokesperson for Charles Schwab confirmed the layoffs, emphasizing that these measures were essential to position the company for long-term success. While the precise number of affected employees was not disclosed, the firm ‘s headcount was 35,900 as of September 30, according to a corporate fact sheet. Initially announced in the summer, the cost-cutting initiatives include evaluating the company’s real estate footprint, streamlining the operating model and implementing staffing reductions, particularly in non-client-facing areas. Charles Schwab faced...

Feb 13, 2024