Recession 2022: Retrenchment of employees will affect H-1B visa holders, Amazon founder also warned

 Recession 2022 Amazon founder Jeff Bezos has warned people amid economic recession.  Bezos told American families not to buy new cars and TVs because America is going through a recession.

After hearing the name of IT company, all of them feel that salary growth is very quick in this sector. Many big companies of the IT sector provide their employees with a huge amount of salary as well as luxury life.

IT companies make profits through their own employees, but when these companies start making losses, these companies show the way out to their employees in large numbers without thinking. Something similar is happening at this time. At this time Twitter is in a lot of headlines because the company has laid off more than 50 percent of its employees.

Companies like Meta i.e. Facebook, Cisco, Amazon and Netflix have also started laying off their employees. The company which is running into losses, during that time the company fires its employees, it is also called lay-off. In this episode, now Amazon founder Jeff Bezos has warned people. Jeff Bezos has warned consumers and businesses that they should consider postponing major purchases in the coming months, as an economic downturn looms.

What did Jeff Bezos say

 Regarding the economic slowdown, Jeff Bezos has warned people to save themselves from big purchases in view of the upcoming festival season. During an interview, Jeff said that he has advised consumers to save their money. Apart from this, he has also advised people to avoid spending excessively or unnecessarily. While advising Americans, he also said that avoid buying expensive things like expensive cars and TVs.

 How correct is Bezos's advice?

 Bezos told American families not to buy new cars and TVs because America is going through a recession. Let us tell you that the household debt in America has increased to $ 16.5 trillion and Americans have become dependent on credit to meet their needs. He said, "Save your money and see what happens next." This rule applies to automobiles, refrigerators, or anything else. Jeff said that by saving money, you can protect yourself from the risk of an economic downturn. If we fall into a more serious economic crisis than this, we can look at the problems and look for possibilities".

What is H-1B Visa and its rules

 H-1B Visa is a non-immigrant visa. Employees with this visa can work for US companies for three to six years. On the basis of this visa, foreign nationals work in American companies. There is a rule of this visa, according to which, if a person loses a job in the US or is fired by a company, he has to find another job within 60 days. Due to the economic recession in America, IT sector hiring has now stopped. In such a situation, a big problem has come in front of the Indians who have lost their jobs.