I don't understand why this is allowed.
According to the 60 Minutes piece the H1B rules were changed allowing a loophole for companies where an employee earns >$60k. That's just about everyone in the skilled labor market.
I've seen technology and HelpDesk services offshored before and it ended badly. In all fairness though, in my [parent] company's case I strongly suspect they aren't trying to be more profitable but rather to look like it on the books to sell off this subsidiary.