Tuesday, January 13, 2009

Is your job under threat. Tech market to see huge layoffs.

With the overall economy slumping, the tech industry is taking its fair share of hits. Massive layoff's are in the pipe-line.
Not good news for a market that was once booming and moving upward at the speed of sound.

Some of the most well known and industry leaders are amongst the highest job cuts we will see this year.

Among them are:
  • Logitech - 9,000
  • eBay - 1,000
  • Sony-Ericson - 24,600 over three years (6200/year)
  • Xerox - 3,000
  • Freescale - 2,400
  • Nortel Networks - 1,300
  • Applied Materials - 1,800
  • Sun Microsystems - 6,000
  • Palm - 1,050
  • AT&T - 12,000
  • Alcatel-Lucent - 6,000
  • Western Digital - 2,500
  • Lenovo - 2,500
  • Dell - 1,900

How does that make you feel? Do you feel secure in your IT related job?

This is only half the problem. If there are so many job cuts in the market, then it stands to reason that the hiring will be just as bad or worse. You can't hire if you fire.

What about jobs for those leaving school, college or university?

Although a lot of tech companies seem to be doing well. Why then the big layoff? Was it just that they hired too many? Did they pay too much for the so called experts? Did they over staff?

So what happens now? What does the future hold for us techies? Should we start looking at another career, like politics perhaps?

I recently started on my own, with a Web Design and development company. Is my start-up going to fail? Is there enough work out there?

What are your thoughts, what do you think the future holds for the IT industry?