Study Finds Dramatic Loss Of Tech Jobs
Job trimming at technology companies took off during the past three months, according to a new report.
Source: ZDNet
Not good. -KFAnnounced job cuts in the technology sector hit 54,701 in the third quarter, up 60 percent from the second quarter and 14 percent from the third quarter of 2003, according to a report Monday from employment services firm Challenger, Gray & Christmas. Challenger defines the technology sector as computer, electronics, telecommunications and e-commerce companies. John Challenger, CEO of Challenger, Gray & Christmas, blamed the cuts on pricing problems in the sector. "High-tech job cuts are on the way up as the end of the year approaches. Behind this trend is the fact that technology companies have virtually no pricing power," Challenger said in a statement. "Even as demand increases, most manufacturers and service providers are getting less money for each unit sold. They are forced to cut costs to maintain healthy profit margins."
Source: ZDNet
0