What Recovery? Tech Sector Job cuts DOUBLE in Past Quarter

If you believe Guv Jerry and Prez Barack, the economy is doing fantastic.? Then when you look at the numbers, you realize they are just hack politicos lying to make people feel good.?? For instance since January the national economy has created well over 700,000 jobs?that is GREAT.? The reality is different?more than 550,000 of those jobs are PART TIME.

Now the technology sector is also being hit.? They are happy that is three months the tech sector lost only 20,00 jobs?but in the first quarter it was ?only? 8300 jobs.? The industry is changing and the cost of doing business, i.e. ObamaCare, is changing the cost structure.? This job cut has been going on for two years?during the Brown/Obama fantasy ?recovery?.

?Between April and June, employers in the computer, electronics and telecommunications industries announced plans to cut 20,491 jobs from their payrolls. That is 144 percent more than the 8,392 job cuts announced in the first quarter of the year and the highest quarterly total since the second quarter of 2012, when technology firms reported plans to cut payrolls by 39,164.?

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Tech-sector job cuts surge

Central Valley Business Times,? 7/16/13

?? Up 144 percent in Q2

?? Deeper cuts on horizon as PC sales slow
Job cut announcements in the technology sector more than doubled during the quarter ending June 30, rising to the highest level in a year, according to a report Tuesday from outplacement firm Challenger, Gray & Christmas Inc.

Between April and June, employers in the computer, electronics and telecommunications industries announced plans to cut 20,491 jobs from their payrolls. That is 144 percent more than the 8,392 job cuts announced in the first quarter of the year and the highest quarterly total since the second quarter of 2012, when technology firms reported plans to cut payrolls by 39,164.

The second-quarter surge was led by computer firms, which saw job cuts increase 365 percent from 3,526 in the first quarter to 16,404 in the latest quarter. Electronics firms also increased the pace of job cutting in the second quarter, announcing plans to eliminate 2,344 jobs, up 68 percent from 1,395 in the first quarter.

Despite the dramatic increase in tech-sector job cuts last quarter, the overall pace of downsizing has slowed from a year ago. Through the first six months of 2013, technology employers announced 28,883 job cuts, which is 44 percent fewer than the 51,529 layoffs recorded in the first half of 2012.

?The uptick in tech job cuts we saw in the first half of the year appeared to be due primarily to shifting trends in the computer and information technology industries, which are making it necessary for companies to alter business strategies, streamline operations and restructure their organizations,? says John Challenger, chief executive officer of Challenger, Gray & Christmas. ?Technology firms have become particularly adept and nimble when it comes to adjusting to emerging trends.?

A prime example of this ability to quickly shift gears is CA Technologies, which announced 1,200 cuts worldwide following a 4 percent decline in annual revenue. Under the leadership of new chief executive officer Mike Gregoire, who took the helm in January, the software firm is adjusting to an industry shift toward cloud computing, big data and delivering software as a service.

The same shift toward cloud computing and big data was also behind recent workforce reductions at data storage provider, EMC Corp., which announced about 1,000 job cuts in May.

Meanwhile, IBM is expected to cut as many as 8,000 workers globally following disappointing earnings in the first quarter. In a statement that confirmed a specific job-cut total, the company provided the following insight:

?Change is constant in the technology industry and transformation is an essential feature of our business model,? IBM says. ?Consequently, some level of workforce remix is a constant requirement for our business. Given the competitive nature of our industry, we do not publicly discuss the details of staffing plans.?

Mr. Challenger cautions that the second half of the year could see even more job cuts in the technology sector, as at least one forecaster cut its forecast for global IT spending this year in half due to slowing PC sales.

?If sales of equipment, software and services do slow, expect more companies to react with planned layoffs. The good news is that these workers? skills are in demand, particularly those experienced in data analytics, cloud computing, systems architecture, information security, and software engineering,? he says.

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Source: http://capoliticalnews.com/2013/07/16/what-recovery-tech-sector-job-cuts-double-in-past-quarter/

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