Jobs cuts in the tech industry have soared 68% year-over-year through June, according to new data from Challenger, Gray, and Christmas [1] , and losses are on pace for their biggest jump since 2009.Â
The largest cuts came from H-P, which slashed 16,000. CEO Meg Whitman has said the company remains in turnaround mode as they work to streamline across their broad portfolio, which encompasses computing, networking, storage and software. [2]
In total there will have been 48,402 jobs lost through June. That doesn't include Microsoft's recent July announcement [3] that it would axe 18,000 positions. John A. Challenger, chief executive officer of Challenger, Gray & Christmas says the cuts do not necessarily bode ill for the industry.
“Oddly, the rise in technology sector job cuts is occurring at a time when the economy is finally starting to regain some of its former glory. However, increased job cutting is not always a sign of an industry in decline.â€
Here's Challenger, Gray's table by company. Most of the cuts are in legacy tech giants:
And by sector and year:
Links
- ^ according to new data from Challenger, Gray, and Christmas (www.challengergray.com)
- ^ said (www.reuters.com)
- ^ July announcement (www.google.com)
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