2010 Tech Cuts Fall To Record Low

While the pace of downsizing declined significantly for most industries in 2010, the technology sector fared particularly well, with employers announcing plans to cut 46,825 during the year. That was 73 percent lower than the 174,629 technology job cuts in 2009 and the lowest annual total for the sector in records going back to 2000.

The latest report on technology sector job cuts released Monday by global outplacement firm Challenger, Gray & Christmas, Inc. reveals that planned layoffs plummeted in the second half of 2010. Employers in the sector, which includes computer, electronics, and telecommunications firms, announced 35,375 job cuts between January and the end of June 2010. From July through the end of the year, job cuts totaled 11,450; a 68 percent drop.

Full Report (PDF): http://www.challengergray.com/press/PressRelease.aspx?PressUid=159

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