Skip to comments.Tech layoffs could hit highest level since 2009
Posted on 07/29/2014 10:31:44 AM PDT by SeekAndFind
Layoffs in the technology sector could reach their highest level in five years, according to a group that tracks employments trends.
So far this year, tech employers have announced plans to cut payrolls by 48,402, a 68 percent increase over the 28,883 layoffs announced during the same period in 2013, according to a special report released Monday by Challenger, Gray & Christmas.
At the current rate, the 2014 year-end total could be the highest since 2009, when tech-sector job cuts hit 174,629. The highest total on record was 695,581 job cuts in 2001, when the tech bubble in the stock market burst.
The job cuts in the sector this year were well ahead of last year's pace even before Microsoft announced plans this month to reduce its workforce by 18,000.
The six-month total for the sector nearly surpassed the 56,918 planned cuts announced in all of 2013.
The tech sector includes computer, electronics and telecommunications industries.
(Excerpt) Read more at thehill.com ...
Friends inside Intel think another round is coming next year.
They are only interested in boosting stock price.
Well, it’s true, I got laid off. I’m lucky though. I retired from at&t, went back to work for 6 years, and got laid off. Still have my retirement
Then why are tech companies whining that they need more H-1B visa workers from abroad? Shame on these rich leeches on the system.
We need more immigrants.
I wonder what percentage is going to be from liberal states that voted for Obama?
But we need to double our guest worker programs from 640,000 a year to 1.4 million. According to the GOPe and the Dems we need more foreign workers to fill jobs now going wanting, especially STEM workers.
It seems to me that there is essentially zero loyalty from most companies toward employees these days. And because the Baraqqi Depression grinds on endlessly, employees have very little leverage as far as job mobility.
This is for true tech companies (i.e. Intel, HP, Dell, etc.)
Technical experts are in high demand in all industries. VMware, Red Hat and Cisco knowledge (esp. certifications) will net you big bucks.
I and a bunch of other people were laid of from a hitech company in the beginning of April, but were kept on until the end of the month. In that time we sat through a state of the company presentation where they bragged how the were expanding in India. Nice.
The tech world has been busily eliminating human labor, from the office to the manufacturing production floor, for almost 40 years, and now their own efforts are reaching their own people.
With CA, WA, NY & MA probably most of them. Democrats are stupid.
Count NJ also. We’re now a suburb of Bombay.
What’s interesting is how many big pharma companies are leaving, when NJ used to be the seat of the pharma industry. You would think that with so much cheap H1B labor readily available, this would be paradise for high tech employers. But ... for some reason ... they’re all leaving and moving to “whiter” parts of the country.
Gee, could it be that cheap Indian labor is really CRAP??????
Repeal all H1B laws and visas, fire 3 of every 5 project managers and all CIOs/CTOs. Available jobs, new positions, and productivity will rise sharply.
Your name should be signed Dilbert!