Tech Sector Saw Nearly 175,000 Jobs Cut in 2009

Friday Jan 22nd 2010 by Staff

Challenger, Gray & Christmas says the last time layoffs were this bad was 2005, but 2010 should be better.

eWeek: According to a report by outplacement company Challenger, Gray & Christmas, tech company slashed 174,629 jobs in 2009, up 12.3 percent from 2008. Of the 1.3 million total announced job cuts in the United States in 2009, the tech industry accounted for 13.2 percent.

"The worst of the downsizing occurred in the first quarter, which is when the overall economy hit rock bottom," said CEO John A. Challenger. "The recession's impact on the tech sector was inescapable."

He added, "It's going to be a slow climb out of this recession, but computer and electronics firms should be among the first to see the turnaround, as companies try to postpone hiring by achieving productivity gains through technology."

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