H-1B Filings Drop Sharply at Walmart, Goldman Sachs After New Visa Fees

Major employers from Walmart to Goldman Sachs have cut H-1B visa applications by half or more in the wake of Trump administration rules that added a $100,000 fee for many new hires and prioritized higher wages. The shifts, covering the first full quarter after the September 2025 changes took effect, have altered hiring calculations across retail, finance and health care. Smaller organizations now face the steepest barriers.

The central tension is whether these restrictions will open more opportunities for American workers or simply leave specialized roles unfilled. Department of Labor data show Walmart certified 312 H-1B applications from October through December 2025. That figure is down more than 50 percent from roughly 860 in the same period a year earlier, according to the department's Labor Condition Application records. Goldman Sachs filings fell 60 percent to 101, while JPMorgan Chase dropped 29 percent to 516. Citi, by contrast, posted a nearly 20 percent increase. Across the 20 largest financial filers, total applications declined 25 percent year-over-year.

Administration officials have described the overhaul as a direct response to long-standing program abuse. A September 2025 presidential proclamation imposed the new fee on visas for workers outside the United States, exempted those already present on other statuses. It also directed changes favoring higher-paid positions in the annual lottery and prompted a Labor Department proposal to raise minimum wages for visa holders. Previous costs averaged around $10,000 including legal and filing fees, immigration attorneys have reported.

Demand has not collapsed entirely. U.S. Citizenship and Immigration Services received 344,000 registrations for the fiscal 2026 lottery, a 27 percent decline from the prior year but still four times the 85,000 visas available. The agency confirmed it met the cap. Large technology companies have largely navigated the fee by focusing on workers already inside the country, often international students transitioning from other visas. Smaller nonprofits, rural hospitals and schools report greater difficulty.

Wayside Youth & Family Support Network in Massachusetts stopped using the program after determining it could not absorb the added cost, according to its president Sara McCabe. The organization turned away prospective students as a result. A private nephrology practice in rural North Carolina is weighing a loan to cover the fee for a physician candidate from India after a national-interest waiver request was denied. Northern Light AR Gould Hospital in Maine paid the full amount to secure a German surgeon for a three-year vacancy and may defer equipment purchases to offset the expense.

Immigration lawyers tracking the program describe uneven effects. Vic Goel, a Virginia-based attorney representing corporations, said the burden falls heaviest on smaller entities unable to absorb new costs or compete on salary. Toni Xu, who works with Silicon Valley and New York clients, reported a 50 percent drop in her H-1B-related work. Federal data released in court filings tied to employer challenges showed a 15 percent decline in applications from cap-exempt organizations between September 2025 and mid-February 2026 compared with the prior period. Only 85 payments of the $100,000 fee had been recorded by then.

The H-1B program has divided opinion for decades. Critics point to documented cases of companies replacing American staff with lower-paid visa holders. Supporters cite research showing net economic gains, though studies differ on wage effects for U.S. workers in specific occupations. The new rules explicitly aim to reduce incentives for wage suppression. Walmart's median base salary on certified applications rose to $150,000 from $144,000-$145,000 in the two previous years.

Broader forces complicate the picture. Many firms have slowed hiring after post-pandemic expansion, and financial institutions have cut technology roles amid efficiency drives. Generative AI tools are reshaping demand for certain coding and data positions that once relied heavily on H-1B talent. Some executives, including the CEO of a San Francisco automation startup, welcomed reduced lottery competition and the tilt toward workers already educated in the United States.

Questions remain about full-year outcomes. The January lottery filings, which drive most new visas, will provide a clearer snapshot. Cap-exempt entities such as universities and nonprofits can apply year-round. Companies are exploring alternatives including L-1 intracompany transfers and increased domestic recruitment. For now the data show a program in transition, with large employers trimming new overseas hires while certain sectors absorb immediate staffing pressure.