Tech Vendors Shedding Jobs Quickly

By Kathleen A. Martin  |  Posted 2008-11-23 Email Print this article Print
 
 
 
 
 
 
 

WEBINAR: On-demand webcast

Take Advantage of Cloud Backup to Kick-Start Your Disaster Recovery REGISTER >

IT vendors have eliminated more than 50,000 jobs since the economic meltdown began in September. Many speculate more jobs will fall under the cost-cutting axe before the end of the year. Here's a list of companies eliminating jobs...so far.

Lexmark (NYSE: LXK) handed out more than five dozen pink slips Friday to sales and marketing specialists—including channel chief Sharon Brindley (click here for: "Lexmark Without Channel Leader") in a sudden restructuring at its Lexington, Ky. headquarters.

The Lexmark action is just the latest in a growing string of downsizing among vendors that are laying off staff to offset sluggish revenue in the slowing economy. Since the economic meltdown began in September, technology vendors have shed more than 50,000 jobs.

The largest tech layoff of the year came from Hewlett-Packard (NYSE: HPQ) in September, when it announced the elimination of more than 24,600 jobs resulting from the acquisition of EDS. Since then, Dell (NASDAQ: DELL) has downsized nearly 9,000 employees to reduce expenses and, most recently, Sun Microsystems (NASDAQ: JAVA) announced the elimination of up to 6,000 workers as part of a restructuring effort.

While Cisco Systems (NASDAQ: CSCO) and Microsoft (NASDAQ: MSFT) say they do not plan any layoffs in the foreseeable future, speculation is running rampant in Silicon Valley and throughout the tech industry that more jobs will be eliminated before the end of the year and through the first quarter of 2009.

The following is a list of tech vendors and the number of jobs they've eliminated since September.

 

Tech Sector Layoffs
(September 14 - November 21)

Company Stock Ticker Date No.
HP/EDS* HPQ 09/14/08 24,600
Dell DELL 10/22/08 8,900
Sun Microsystems JAVA 11/14/08 6,000
Motorola MOT 10/30/08 3,000
XeroxCorp XRX 10/23/08 3,000
Sony Ericcson - 10/17/08 2,000
Applied Materials AMAT 11/12/08 1,800
eBay EBAY 10/03/08 1,500
Symantec SYMC 10/31/08 880
Honeywell HON 11/07/08 700
Texas Instruments TXN 10/20/08 650
AMD AMD 11/05/08 500
Nvidia NVDA 09/18/08 360
National Semiconductor NSM 11/12/08 330
Insight NSIT 11/10/08 240
MPC - 11/05/08 210
Tektronix - 11/04/08 150
Cisco Systems CSCO 10/13/08 129
Palm - 11/21/08 105
Softchoice SO 10/20/08 62
Lexmark LXK 11/21/08 60
Lenovo   10/14/08 50
Pandora - 10/17/08 20
Total 55,246

 

 

 

 * Jobs eliminated by HP were related to the elimination of redundant functions with the acqusition of EDS.

 
 
 
 
 
 
 
 
 
























 
 
 
 
 
 

Submit a Comment

Loading Comments...
























 
 
 
 
 
 
 
 
 
Thanks for your registration, follow us on our social networks to keep up-to-date