Microsoft Announces More Layoffs as October Tech Job Cuts Take Huge Leap
The monthly Challenger, Gray & Christmas numbers on announced job cuts are in. Although in general cuts dropped by 16 percent, high tech fared far worse as Microsoft plans additional layoffs past the 5,000 anticipated earlier this year. Announced October reductions were up more than ten-fold from September and the tech sector numbers were a full third of the month's total. And all of that is in the face of the highest US unemployment numbers in 26 years. Here's a summary of the months so far:
Sector | January | February | March | April | May | June | July | August | September | October |
Electronics | 11,050 | 11,065 | 11,500 | 6,608 | 1,423 | 4,103 | 1,343 | 1,562 | 683 | 10,882 |
Computer | 22,330 | 3,960 | 5,290 | 1,702 | 15,384 | 2,795 | 1,684 | 75 | 494 | 7,089 |
Telecom | 13,056 | 5,666 | 250 | 262 | 812 | 802 | 17,601 | 749 | 617 | 226 |
Total | 46,436 | 20,691 | 17,040 | 8,572 | 17,619 | 7,700 | 20,628 | 2,386 | 1,794 | 18,197 |
Clearly the tech sector isn't out of the woods, and so pronouncements like those of Cisco CEO John Chambers that there are signs of a recovery must be taken with a shaker of salt.
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