Report: Tech Job Cuts at a 6-Year LowBy Deborah Rothberg | Posted 2006-07-14 Email Print
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The number of job cuts in the tech sector plunged overall in Q2, but e-commerce layoffs are up and more telecom job cuts are expected, consultants say.Showing a 26 percent reduction in job cuts, the second quarter of 2006 was a great one for the tech sector, according to a report issued July 13 by Challenger, Gray & Christmas, a Chicago-based global outplacement consultancy.
The number of Q2 job cuts was the lowest in nearly six years, according to the report. Only 29,226 jobs were cut, compared to 39,379 in Q1, and the fewest since 26,583 jobs were cut in the third quarter of 2000.
The report found that the decline in job cuts in the tech sectorencompassing telecommunications, electronics, computers and e-commerceis reflective of a decline in job cuts across all industries, which saw a 29 percent drop between Q1 and Q2.
In addition, the report notes that Internet firms such as Google, which announced plans the week of July10 to bring 1,000 jobs to Michigan, added to the job growth, as did booming ad sales across the Internet.
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