This summer, instead of enjoying vacations, many IT and telecom professionals likely are out job hunting in the aftermath of layoffs.
The trend of IT and telecom giants trimming expenses continued during the first half of this year as numerous big names announced job cuts. And with CompTIA forecasting a bleak outlook for telecommunications, more job cuts are likely during the remainder of the year.
Our layoff tracker recaps the cuts that have occurred so far this year, whether prompted by M&A or streamlining measures. Companies featured include Oracle, Vonage, Windstream, Microsoft, Rackspace, Zayo and Verizon.
The IT job market should grow at the about the same rate as it did in 2016 even though market growth currently is behind what occurred in the first six months of 2016, according to Janco Associates.
“There continues to be a shrinking of telecommunication jobs,” said Victor Janulaitis, Janco’s CEO. “In the last 12 months alone, there has been a loss of 39,200 telecommunication jobs while the rest of the IT job market (has) expanded by 88,000 new jobs in the same period. “This is a trend that we think will continue for the next few quarters."