No, it doesn't. The layoffs that EMC2 had to bring about the last 2 times were worldwide.
Of all the layoffs combined, only about 25% of them were for personnel in this country. The rest were in other countries. In 2001 there were a total of 4360 people laid off. Of those, approximately 1100 were in the United States. And the majority were not technical positions that would be filled by people entering on H-1B visas. Most were in overlapping field positions including Sales and Professional Services. As a matter of fact, Engineering and Technical Support departments were left largely untouched.
Did your research indicate how many of those employees here on H-1B visas were laid off? Or did it indicate what salaries are/were paid to those employees on H-1B visas? I can assure you they are commensurate with salaries paid to "Americans" like me.
H-1B's very seldom get laid off. According to the law a company is required to still pay them for the remainder of their contract. Why would a company hire over 3,000 H-1B's is 2001 just to lay them off in 2002? This makes no business sense at all. Salaries are not the issue. American workers are AVAILABLE to fill these positions, there are thousands of unemployed American engineers and IT workers that could have filled the poisons that were given to foreigners.