/>
X
Business

Tech layoffs accelerate in first quarter

Layoffs in the technology sector accelerated in the first quarter to hit 84,217, the highest total since 2002, according to Challenger, Gray & Christmas, an outplacement outfit. The layoff tally in the first quarter was up 27 percent from the 66,312 job cuts announced in the fourth quarter.
Written by Larry Dignan, Contributor on

Layoffs in the technology sector accelerated in the first quarter to hit 84,217, the highest total since 2002, according to Challenger, Gray & Christmas, an outplacement outfit. 

The layoff tally in the first quarter was up 27 percent from the 66,312 job cuts announced in the fourth quarter. In the first quarter a year ago, the tech sector had 17,345 layoffs. Simply put, first quarter technology job cuts in 2009 are already more than half of the total posted in all of 2008.

On the bright side, the technology sector isn't seeing the levels hit in the dot.com bust, which led to 1.16 million job cuts in 2001 and 2002. During that downturn, technology companies announced an average of 145,467 job cuts a quarter. 

In a statement, Challenger noted that layoffs may pick up in the tech sector as companies start to merge. In 2009, there have only been 1,360 merger-related job cuts. In 2008, that tally was 31,313. 

Here's the tech job cut breakdown:

Also see:

Editorial standards

Related

These are my 5 must-have devices for work travel now
ipad-mini-firewalla-purple-macbook-air

These are my 5 must-have devices for work travel now

Twitter turns its back on open-source development
elon-musk-twitter

Twitter turns its back on open-source development

This 1980s programming language sparked a revolution. Now you can check out the source code
developers-security

This 1980s programming language sparked a revolution. Now you can check out the source code