Companies benefit a ton from cheaper labor. But the existing laborers lose out because of competition driving down wages. There might be a neg positive effect

Companies benefit a ton from cheaper labor. But the existing laborers lose out because of competition driving down wages. There might be a neg positive effect on the economy, but the benefits go to the rich and the immigrants, at the expense of the local poor and middle class. Prices are not going to fall that much because of immigrant labor, and certainly not enough to make up for the decreased wages.