Tech Job Cuts: Heads start Rolling

You know the tech industry is already affected by this credit crunch is when they all start announcing job cuts or lay-offs.

These are just the big named companies. Start-ups are also doing the same thing. TC has a tracker here.

Symantec – 880
Electronic Arts – 600
Motorola – 3,000
Xerox Corp – 3,000
Dell – 8,900
Yahoo -1,500
Texas Instruments – 650
Cisco Systems – 129
eBay – 1,500
Micron Technology – 1,500
Sony Ericsson – 450
Nvidia – 360
NXP semiconductors – 4,500

Social networking Hi5 made 15 job cuts, Adbrite trimmed down by 40, Mahalo dropped 6, and Kevin Rose’s Revision3 (producer of Diggnation, Tekzilla) dropped 4 shows and 10 people.

What’s interesting is that tech companies based in the Philippines seemed unaffected by all these. In fact, Headstrong (my former employer), is expanding with a recent announcement of hiring 150 fresh graduates. Accenture is not slowing down either.

Have not heard of any tech job cuts locally or any start-ups closing down. Correct me if I’m wrong but it looks like the IT sector in the country is doing good despite the financial crisis (and I thought it’s just the call centers).

Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

https://www.yugatech.com

15 Comments

Chetan says:

16 years ago

People always hate to talk about when they are laid off. But as it has become every day’s news headline since Yahoo started it with cutting 1500 of its task force last year, now a need of platform has been in demand where people can express their selves in words how they are feeling about their company, whey the got laid off was that justified or not.
And every thing they want to tell anonymously.And http://www.layoffgossip.com is providing you that platform.
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issai says:

16 years ago

sorry again “would cut tax breaks” i should be careful of what i write and proof read all the time.

note that in the bush administration that business who outsource are given tax breaks. while business who hire in the US do not receive the same tax breaks. that’s what i know at least.
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issai says:

16 years ago

sorry, i meant tax breaks*
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issai says:

16 years ago

@ying, he didn’t say penalize. he said that he would give tax brakes for companies who outsource. that won’t stop big companies from outsourcing. he’s probably talking to the smaller business owners. obama won’t end outsourcing so don’t worry. he’s more concerned about his country getting enough jobs.

it doesn’t make sense if there will be no jobs in the US because people won’t be able to spend money on products and services by businesses who outsource. we are in a global economy, if the US economy collapses, the rest of the world MIGHT follow. so from obama’s point of view, take care of his country first.
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ying says:

16 years ago

What can you say about the alleged stance of Obama against outsourcing? I read an article saying that Obama will “penalize” companies that outsource their work to other countries.
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Aldrin says:

16 years ago

Here, we also do cost-cutting but in a different way that laying off employees should not be an option as much as possible. In fact, hiring new graduates and experienced ones are still going on.
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jhay says:

16 years ago

Read from the Inquirer a few days back that our country would feel the real impact of the credit crunch next fiscal year. It’s just a matter of time according to them experts.

Let’s just hope we’ve used the time delay to prepare for the worse that is to come.
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Alex says:

16 years ago

there will be no job-cut in our country because the labor cost is already low compared in other countries. tech companies earn so much in putting their business here.
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issai says:

16 years ago

for more tech gossip/news just got o valleywag or techcrunch. i don’t think the tech collapse here will affect the philippines drastically if that’s what you mean. the collapse here might affect inflation, value of stocks, value of the peso etc. but in terms of jobs, i think the tech industry in the philippines will be fine. i have great faith in the talents there.
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issai says:

16 years ago

i know a bunch of people who got laid off. there are still jobs here but it’s painful and scary. jobs are going everywhere, india, philippines and other low cost labor countries.

and ouch on the global economy. really. everyone, i mean everyone needs to be prepared. so people, save money. remember the ant and the grasshopper? you get my point.
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Andre Marcelo-Tanner says:

16 years ago

lots of clients besides the US and Europe
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charles says:

16 years ago

2 Call Center Companies called me for the last interview but i realized i don’t have the time. Jobs are going into the Philippines.
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PinoyDigg says:

16 years ago

HP will be laying off 24,000 folks due to buy-out from EDS… got some more juicy gossips bout this but out of topic na… anyway, HP-Philippines won’t be affected (I guess) since the co is still hiring talents..
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Erin says:

16 years ago

outsourcing companies are not slowing down their hiring because they are banking on the fact that if 1st/2nd world countries are doing cost-cutting then they would probably send more work overseas where labor is cheaper. more bang for their buck.

but the local outsourcing company offices do not leave the meltdown unscath. they just need to be more efficient in order to weather the storm until their clients do sign up for more outsourcing work.

ciao!
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