Quote Quoting Pine_hill76
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I would appreciate very much for any advice in dealing with the situation.
Unfortunately, replacing a high paid employee with someone who will do the job for less pay is not itself illegal. But replacing U.S. citizen workers with H!B visa workers may violate the federal law that set up the H1B visa program as it contains certain rules to protect citizens from being displaced by H1B workers. The idea of H1B visas was to provide workers for positions that are otherwise hard to fill with just citizens. In other words, these workers are supposed to fill jobs that otherwise cannot be filled by citizens. See the U.S. Department of Labor (DOL) H1B employment law guide for more information about the program. You may make a complaint with the DOL by filing a Form WH-4 if you believe that your employer is replacing citizens who are skilled to do the job with H1B visa holders.

In the end, though, if your employer is really struggling financially, it may be just a matter of time before you get laid off even if the company is following the rules. So I suggest you get ready to start looking for work should the hammer fall. If you are prepared for it then it will be less of a shock and you can hit the ground running in a search to find a job elsewhere.