Monday, April 6, 2009
Tech Job Cuts Upgraded to “Appalling” from “Gruesome”
The first three months of 2009 were brutal ones for the high-tech industry–from a job loss perspective, the worst in seven years. Challenger, Gray & Christmas on Monday said high-tech companies sacked some 84,217 employees in the first quarter, a 27 percent increase over the previous quarter and the steepest reduction the firm has seen since the Great Dark Time of 2002.





Looking over the latest unemployment figures, Silicon Valley’s technology bust early this decade no longer seems such a distant memory. In another unsettling economic sign, the unemployment rate in Silicon Valley rose for its fourth consecutive month in August to reach a four-year high. 