Wednesday, February 18, 2009

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Tech Layoffs Speed up; reached to 300,000

It took only three weeks for tech layoffs to surge from 200,000 in late January to 300,000, according to TechCrunch's Layoff Tracker. The story says it took four months to rack up the first 100,000 layoffs, then five weeks to hit 200,000.

Despite the breathtaking numbers, the tech unemployment rate in late January was 3.4 percent, compared with 7.6 percent for all sectors, according to this interview with exec Tom Silver on EDN, which doesn't make clear the headline refers to a report from 2008.

Nevertheless, CNET News reports is seeing an increase in job postings for IT contract work.


  1. I am not clear on why tech people are being laid off. Are any studies being done? I would think that in a technologically driven society, there would be more jobs now for people in IT than ever before. It seems that companies are laying off people out of a need to maintain their bottom line, when they should be looking at ways to increase their profits.

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