(Credit: Challenger, Gray & Christmas, Inc.)
Although there's talk of the economy slowly but surely making a comeback, layoffs in the tech sector hit their highest level in three years during the first half of 2012, according to a report released today by outplacement firm Challenger, Gray & Christmas, Inc.
During the first half of the year, 51,529 planned job cuts were announced across the technology sector, representing a 260 percent increase over the 14,308 layoffs planned during the first half of 2011. Things are so bad so far this year that the figure is 39 percent higher than all of the job cuts recorded in the technology sector last year.
Hewlett-Packard proved to be the major force behind this year's uptick in planned layoffs, after the company announced in May that it would cut 30,000 jobs. Those layoffs will be completed by the end of fiscal 2014, and shave off 8 percent of HP's entire workforce.