Tech companies will be slashing more jobs this year than they did last year, according to a report by Challenger, Gray & Christmas.
During the first half of the year, tech employers said they would be cutting 48,402 jobs compared with 28,883 jobs during the same time period last year, according to a mid-year report published Monday by the recruiting firm. That’s a 68 percent increase from a year ago. And that doesn’t even include Microsoft’s recent announcement to layoff 14 percent of its workforce.
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Tech firms with most payroll cuts for first half of the year
5/24/2014 Hewlett-Packard co. 16,000
1/20/2014 Intel Corp. 5,350
2/27/2014 Maximus Inc. (Affordable
Care Act call center) 1,600
5/19/2014 LivingSocial 1,500
1/23/2014 Texas Instruments Inc. 1,100
3/1/2014 Verizon Wireless Irvine 1,092
5/30/2014 Dell Inc. (India plant) 1,000
1/29/2014 EMC Corp. 1,000
4/9/2014 Intel (Costa Rica plant) 1,000
2/27/2014 Sony Electronics 1,000
2/13/2014 Verizon call center 600
1/26/2014 Center Partners call center 500
2/28/2014 Cox Communications (call centers) 500
Source: Challenger, Gray & Christmas, Inc.
At this pace, job cuts in the tech sector this year will likely be the highest since 2009, when tech job cuts reached 174,629, according to the report. Tech employers slashed the most jobs in 2001 with 695,581 payrolls cut, according to the firm.
Computer firms announced the most layoffs during the first half of the year, with 30,002 jobs being cut. The telecommunications industry announced 5,214 job cuts and the electronics industry set to downsize by 5,356 jobs.
source: Cadie Thompson/CNBC