The hits just keep on coming, techies.
Nearly 120,000 job cuts have happened in technology in the first half of 2009, according to a newly released study by outplacement firm Challenger, Gray & Christmas. Here's the picture from the C, G, & E statement:
"Despite the second-quarter decline, tech-sector job cuts for the first half of the year reached 118,108, which is the largest six-month total in seven years. It was more than double the 50,989 cuts announced between January and June in 2008.The computer industry led tech-sector job cuts in the second quarter with 19,881 announced layoffs, 37 percent fewer than the 31,580 cuts in the first quarter. The biggest declines in job cuts were enjoyed by employers in the electronics and telecom industries, where planned layoffs dropped 64 percent and 90 percent, respectively. Planned job cuts announced by employers in the electronics industry fell from 33,665 in the first quarter to 12,134. Telecom firms announced only 1,876 job cuts in the second quarter, down from 18,972 in the first three months of 2009."
The statement goes on to say that the recession is benefiting the wireless sector as more consumers are ridding themselves of landlines and staying with cell phones. It also points to sales of the iPhone as evidence that the wireless segment is showing resilience despite the recession.
A June 2009 article in GigaOm puts the wireless market for the first quarter of this year like this:
"The U.S. wireless data market grew 5 percent quarter over quarter and 32 percent from first quarter 2008 to reach $10 billion in mobile data service revenues. It marked the first time the U.S .market has achieved the $10 billion milestone."
Glad to hear, at the very least, the second quarter showed a decline in losses for technology jobs. What's in store for the remainder of the year?