Demand for H-1B visas is declining as major companies like Walmart, Amazon, and JPMorgan Chase reduce hiring, reflecting broader trends in corporate America.
A significant slowdown in hiring across the technology and corporate sectors is becoming evident in H-1B visa application data, with Walmart recently highlighting this trend. The retail giant submitted 312 certified H-1B visa applications during the last quarter of 2025, marking a dramatic decrease from previous years, according to data from the U.S. Department of Labor.
This quarter, which represents the first three months of the federal fiscal year, provides an early indication of how recent changes to the H-1B visa program are impacting hiring practices. Walmart’s filings have plummeted by more than 50% compared to approximately 860 applications during the same period the previous year, and they are down about 40% from two years ago.
Other retailers, including Target, Home Depot, and Lowe’s, have maintained relatively stable H-1B filing numbers over the past two years. However, they too reported a decline in applications at the end of 2025 compared to the end of 2024. Walmart’s decrease reflects a broader trend among major tech companies such as Amazon, Google, Meta, and Microsoft, which have also reduced their reliance on the H-1B program following changes implemented during the Trump administration that made obtaining visas more expensive and challenging.
Amazon, which recorded the highest number of H-1B filings in the dataset, saw its quarterly certified applications drop to 3,057 from 4,647 the previous year, a decline of nearly one-third. This trend is not confined to the tech sector; significant financial institutions like Goldman Sachs and JPMorgan Chase have also scaled back their H-1B filings in recent years. Conversely, some firms, such as Citi, reported an increase in applications compared to the previous year.
Data from the Department of Labor indicates that leading financial firms submitted about 10% fewer certified H-1B applications in the first quarter of fiscal year 2026 compared to the same period a year prior. This quarter, which spans from October to December, saw a general decline in the tech sector as well, with most major companies reducing their filings, except for Nvidia.
Among banks, JPMorgan Chase experienced one of the most significant decreases, with filings dropping from 724 between October and December 2024 to 516 in the same timeframe a year later, representing a nearly 29% decline. This shift moved JPMorgan Chase from the top user of the program in the previous year to the second position this year. The bank’s H-1B hiring continues to focus primarily on technology roles. Goldman Sachs reported the steepest decline, with filings plummeting by more than 60%, from 256 to 101, covering a mix of financial and technical positions.
Not all banks followed this downward trend. Citi’s filings rose by nearly 20%, while Barclays experienced an increase of almost two-thirds, and Morgan Stanley reported a rise of more than 25%. These applications encompass a combination of finance and tech roles, although some companies did not provide detailed job categories.
Capital One also noted a modest 4% increase in filings, with many positions centered on data science and machine learning, including senior and director-level roles.
The changes in H-1B visa applications come in the wake of new rules introduced by the Trump administration, which included a $100,000 fee announced in late September, stricter social media checks, and a wage-based lottery system that favors higher-paid applicants. The H-1B lottery, which occurred last month, is typically when the majority of applications are submitted. Once this data is released, the full impact of these policy changes will become clearer. Immigration attorneys have previously indicated that frequent rule changes and uncertainty are prompting companies to reduce their visa sponsorship.
Recent data reveals a sharp decline in H-1B demand over the past few years. Registrations surged from 274,237 in fiscal year 2021 to a peak of 780,884 in fiscal year 2024, before dropping to 479,953 in fiscal year 2025 and further declining to 358,737 in fiscal year 2026.
A similar pattern is observed in eligible registrations, which fell to 343,981 in fiscal year 2026 from 758,994 just two years earlier. One of the most notable changes is the significant reduction in multiple registrations for the same beneficiary, which had soared to over 408,000 in fiscal year 2024 but plummeted to just 7,828 in fiscal year 2026, indicating stricter rules and fewer duplicate filings.
Meanwhile, selected registrations have also decreased, from 188,400 in fiscal year 2024 to 120,141 in fiscal year 2026. Overall, the data suggests a cooling of H-1B demand following years of aggressive filings, likely driven by policy changes and increased scrutiny within the system.
Despite the decline in overall H-1B applications, the sponsorship landscape remains dominated by tech companies. According to the latest fiscal year 2025 data, Amazon leads with 12,391 approvals, making it the largest H-1B sponsor across all industries. Microsoft follows with 5,189 approvals, maintaining a steady demand for global talent. Meta Platforms closely trails with 5,123 approvals, remaining one of the highest-paying employers.
Apple Inc. and Google LLC also surpassed the 4,000 mark in approvals. Tata Consultancy Services recorded 5,505 approvals, keeping it among the top sponsors, while Cognizant Technology Solutions and Infosys Limited reported 2,493 and 2,004 approvals, respectively. JPMorgan Chase saw a significant increase to 2,440 approvals, marking one of the sharpest rises this year. Goldman Sachs, Morgan Stanley, and Citigroup continue to engage in steady H-1B hiring.
As the landscape of H-1B visa applications continues to evolve, companies are adapting to the changing regulatory environment and its implications for hiring practices, reflecting broader trends in the job market.
According to The American Bazaar.