Washington Post: Tech Sector Cuts Back Its Demand for Workers.More worrisome to employees, the shakeout has moved well beyond Web-based start-ups. In recent weeks, technology powerhouses such as Cisco Systems and Intel have announced thousands of job cuts. Firms with steep technology investments, such as the brokerage Charles Schwab, also are slashing payrolls, even after they asked workers to take unpaid vacation days and made other attempts to reduce expenses.
So why are the tech executives still insisting that we need to expand the H-1B visa program? Apparently there still aren’t enough young, cheap workers around.