Thursday August 18, 2016

As Technology Shifts More Layoffs Loom At Tech Companies

If you are looking for a bright side to all these layoff stories, one analyst put it this way; "there is more pain to come." So far this year, the tech sector has shed some 63,000 jobs with more to come. frown

Cisco Systems Inc's announcement on Wednesday that it plans to lay off 5,500 employees is unlikely to be the last round of Silicon Valley pink slips as hardware companies struggle to keep up with rapid technology shifts, analysts and recruiters said. Companies that traditionally have made most of their money selling computers, chips, servers, routers and other equipment are especially vulnerable, analysts say, as mobile applications and cloud computing become increasingly important.