Cut Tech Jobs Highest in 4 Years

December 24, 2021 by No Comments

The recent decrease of jobs at technology-related companies is seen the highest in a span of four years according to a newly-released report.
According to the report released by outplacement firm Challenger, Gray & Christmas Inc., there are almost 175,000 job cuts within 2009. This is the highest figure since year 2005, and was 12.3 percent higher than the figures reported in year 2008.

Chief executive John Challenger said in a statement that the recession is the main reason for the increased figures on tech job cuts. The statement added that since the economy has not yet fully recovered from the series of challenges; many companies are still hesitant in pouring money into new technologies, which affected the tech companies not just in the United States, but in other parts of the world as well.

In the detailed report, electronic companies suffered the most as there were 65,300 job cuts. Next were computer companies that recorded 65, 261 reported job losses. Telecommunication companies were on the third notch where there are 44, 068 announced cuts. Many companies have indeed suffered from the economic crunch. The situation is not on tech firms alone as other industries have suffered from a similar situation.

Despite these figures, many tech firms are trying to cope with the losses, but still find it hard to please new buyers at this point of the year. The report indicated, however, that in the coming months, there could be changes in the trend that could provide employment opportunities to Information Technology experts, particularly in the field of health technology. Technological advancements in medicine seem to be unstoppable so this could be an opportunity for a certain segment of technology firms. Optimism would keep up of these tech firms. After all, technology would never be lost in the coming years.

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