More Layoffs in Technology Sector Seen

April 14, 2009

Orange County - An international outplacement firm which tracks employment trends have released a report saying that employers in the tech industry are seeing its worst layoff in seven years.

Reports showed that although shares for the technology sector are currently seeing a rebound in the stock market, job security has remained a problem for many employees.

Technology employers have cut 84,217 jobs across the country during the first quarter. This figure is 27% larger from the number released for the last quarter of 2008.

Industry experts say that the last time that the tech sector experienced this kind of job cut was in the last quarter of 2002. They also said things aren’t as bad as it was during the 2001-2002 tech sector meltdown.

Companies within Orange County that have a significant job cut included Apex Technology Holdings Inc., Skyworks Solutions Inc., Toshiba America Information Systems Inc., Western Digital Technologies Inc., and Ingram Micro Inc.

Authorities are still expecting more jobs to be cut as company mergers continue on a rising trend.