Technology employment in Silicon Valley is seeing no sign of recovery, according to US outplacement ...
Technology employment in Silicon Valley is seeing no sign of recovery, according to US outplacement firm, Challenger Gray & Christmas, even though the firm anticipated that by now a recovery would be on the horizon.
According to CGC - a company which offers employers recruitment search services for staff which have been made redundant - more than 243,000 jobs have been cut this year in the US telecom, computers and e-commerce sectors, which is naturally hampering an already weak economy.
In Britain, the situation is not as bleak, however there aren't as many jobs being created in these sectors as there were a couple of years ago, says Simon Crockett, operating director at recruitment firm Michael Page Technology. However, he says optimistically, salaries for people currently employed in these sectors have not declined since the internet boom went bust.
But he says that IT graduates which where "snapped up" two years ago with salaries starting at £20,000 should not expect that zealousness to exist with potential employers today. "Now there are very few entry-level positions," says Crockett.
CGC's findings follows a stream of substantial job cut announcements in the US last week. Agere Systems, a company which manufactures communications equipment, slashed 4,000 jobs, more than a third of its workforce. Equipment maker Flextronics International said it will chop 5,261 jobs. And on Tuesday, IBM said it will lose 15,600 jobs -- twice what had been expected -- in its broadest reductions since the early 1990s.
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