Monday, October 27, 2008

Almost 20k Tech Layoffs And Counting

According to a recent blog post over at TechCrunch, "19,683 Tech Layoffs And Counting" there have been over 20k Tech layoff since the economy has began its downward spiral.

TechCrunch's Layoff Tracker, shows there have been 20,494 job eliminations at tech companies announced since mid-September. TechCrunch's list is long and seems to be getting longer, with no end in sight. Currently the list shows 47 companies with 5 big companies make up more than 90 percent of the layoffs: Xerox (3,000), Dell (8,900), Yahoo (1,500), eBay (1,500), and German chipmaker Qimonda (3,000).

The other 42 companies are mostly startups, and collectively account for 2,594 layoffs. Although three more major companies (Sony Ericsson, Nvidia, and TicketMaster) account for an additional 1,110 job losses. The list also fails to include 24,600 people at Hewlett-Packard who are being eliminated as a result of its merger with EDS.

We can't know for sure that all these layoffs are due to the worsening economy, many of them could simply be the cutting of dead weight or just preemptive measures. But we can't dismiss the facts that the weak economy is hitting the Tech industry pretty hard

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