Tech Job Cuts: The 5 Worst Offenders

Established technology vendors including HP and Cisco suffered the biggest layoffs in the U.S. job market last year.

Susan Fogarty

February 19, 2015

6 Slides

Unemployment is at record lows, but if you're in tech you might feel a little uneasy about your job security. "Restructure" has become the verb of the decade, rumors of bloodbaths frequent the blogosphere, and top-notch people bounce from one position to another like ping-pong balls.

In 2014, the tech sector suffered the worst layoffs since 2009, eliminating 100,757 jobs during the course of the year. That was an increase of 77% over 2013, according to a report by outplacement firm Challenger, Gray & Christmas, Inc. Technology giants HP, Microsoft and Cisco led the pack as companies with the most planned layoffs, and the tech sector was responsible for 21% of the 483,171 total jobs lost in the U.S. in 2014.

That doesn't mean your career in technology is doomed, however. As John A. Challenger, chief executive officer of Challenger, Gray & Christmas, said in a statement, "Oddly, the technology sector was among the stronger segments of the economy in 2014 and is likely to be a source for continued growth and job creation in 2015." Layoffs instead indicate the industry is "in flux" and shifting resources around to stay competitive.

In fact, many of the companies that are cutting jobs are simultaneously creating new ones in emerging fields and new areas of business. "The heavy downsizing that occurred in this sector last year should not be cause for alarm," assured Challenger.

That said, demand for IT skills is shifting, and the employers that can and will pay for those skills are evolving as well. Here we outline the tech companies that cut the most jobs in 2014. Only time will tell if they are changing quickly enough to outpace the competition, of if the pink slips will continue to fly.

About the Author(s)

Susan Fogarty

Director of ContentSusan Fogarty is the Director of Content for Interop and UBM’s media properties InformationWeek and Network Computing. She’s an industry veteran who knows the IT audience very well, having served in content development for the event for four years and media for IT professionals for more than 20 years. Prior to joining UBM in 2012, she held an Editor position with Dell and worked at TechTarget, where she served as an Editorial Director, for 11 years.

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