U.S. Tech Firms Announce Most Quarterly Job Cuts Since '02

[OhioChick]

April 9, 2009 - 8:39am.
Chicago - U.S. technology firms announced plans to cut 84,217 positions during the first quarter, the largest quarterly job-cut tally for the sector since 2002, according to a new report from outplacement firm Challenger, Gray & Christmas.

Tech sector job cuts were nearly five times higher than the 17,345 cuts announced during the same period a year ago.

Job cuts in the sector, which includes telecommunications, computer and electronics firms, have increased in each of the past five quarters, growing by an average of 42% every three months.

Despite the increase, quarterly technology job cuts remain well below the levels reached during the dot com collapse that resulted in more than 1.1 million cuts in 2001 and 2002.

During that period, employers announced an average of 145,467 job cuts each quarter.

A growing number of tech firms, including AMD, Seagate, Hewlett-Packard and Motorola, also have recently announced across-the-board salary cuts to help reduce costs.


http://www.dmwmedia.com/news/2009/04/09/u.s.-tech-firms-announce-most-quarterly-job-cuts-%2526%2523039%3B02

[ChromeFoundry]

1. Does the bleeding ever stop? n/t

[Deja Q]

2. An average human male body has but 12 pints. Proverbially speaking, how much does America have?

(the average female body has 9 pints)

Either way, America is eating its own while draining itself. Must be tasty - or one hell of a communion ceremony...