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November Tech Job Cuts Take Dip, But Trend Is Still Up

Challenger, Gray & Christmas announced job cuts are in for November. The outplacement firm notes that, overall, announced staffing reductions were at their lowest level in nearly two years, dropping 9.6 percent from October numbers. However, once again high tech shows that it knows how to buck a trend. Job cuts were down in the segment, but not by much and the trend line still shows an increase. Here's a summary of the months so far:

Sector January February March April May June July August September October November
Electronics 11,050 11,065 11,500 6,608 1,423 4,103 1,343 1,562 683 10,882 4,792
Computer 22,330 3,960 5,290 1,702 15,384 2,795 1,684 75 494 7,089 4,106
Telecom 13,056 5,666 250 262 812 802 17,601 749 617 226 3,810
Total 46,436 20,691 17,040 8,572 17,619 7,700 20,628 2,386 1,794 18,197 12,708
Here's a graph of the monthly results for the year with a trend line for the industry totals:

The number of cuts was down by 30.1 percent, which is a big short-term improvement. However, the overall trend line, which I just added this time to the chart, shows that although layoffs seemed to have bottomed out in August and September, they're definitely on the rise again. That should be an indication that confidence in the economy isn't as widespread in high tech as it may be in other sectors, and that business continues to be slow to return.

Executioner image via stock.xchng user sateda, standard site license.

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