Tech Wreck - 100+K Jobs Gone

[Hum]

Technology, which makes our lives easier, is also putting more Americans out of work at a fast clip.

 

At the same time it announced a fiscal fourth-quarter earnings beat on Wednesday, Cisco (CSCO), the world’s largest networking giant, said it was cutting 5,500 jobs or 7% of its global workforce.  Mark Haranas, of tech news website CRN Opens a New Window. , which earlier in the day reported Cisco would eliminate potentially as many as 14,000 jobs, told FOXBusiness.com the tech industry is cutting the dead weight.

 

“The jobs cuts are necessary to shed some staff in order to bring on new employees with the skillset needed in today’s market.  The networking skills needed in 2016 is drastically different from the skills that were needed just five years ago in 2011,” he said.

 

Microsoft (MSFT), Hewlett-Packard (HPQ) and Intel (INTC) have already slashed more than 100,000 jobs over the past 12 to 14 months, according to data from Challenger, Gray & Christmas, and that number is rising.

 

“There is a certain worry with these bellwethers,” John Challenger of Challenger, Gray & Christmas told FOXBusiness.com. “[The job cuts] are a recessionary sign, the economy may be moving toward that side of the [economic] cycle” he added.

 

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[TPreston]

I sure hope the clowns that produce the plague of ciscos rubbish java applications has been fired.

 

 The production of a new java/flash application (CCP) after the mess that was SDM is reason enough to be fired considering it has all the faults of its predecessor (Old insecure java versions and browser compatibility hell)

Edited August 18, 2016 by TPreston