From Austin Business Journal, April 6, 2009...
In 2009, technology companies have been cutting jobs at a rate not seen since the fallout from the dot.com bubble.
Companies in the technology sector announced planned job cuts totaling 84,217 in the 2009 first quarter, according to the report released Monday by global outplacement firm Challenger, Gray & Christmas Inc. That’s up 27 percent from 66,312 in the previous quarter, and the largest quarterly job-cut tally for the sector since the fourth quarter of 2002, when 133,511 layoffs were announced.
First-quarter tech sector job cuts were nearly five times higher than the 17,345 cuts announced during the same period a year ago. Job cuts in the sector, which includes telecommunications, computer and electronics firms, have increased in each of the past five quarters, growing by an average of 42 percent every three months.
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