I'll go you one better....the Fortune 500 firm I work for now had a significant downsizing effort over five years that made no apologies for releasing over 10,000 domestic employees. In fact, while the layoffs were hitting every day, job descriptions and paper-titles were being changed to accommodate the "new" workforce of H1B's. It was all completely legal and I'm sure we're saving a ton on payroll.
I'm still here, but the last time I worked a project with another "domestic" employee was many years ago. I call all the H1B's "Corky" just to have a laugh at their expense. My number could be up any day.
"It was all completely legal and I'm sure we're saving a ton on payroll"
I could imagine a good portion of the savings goes into a large bonus for the CEO.