The U.S. technology sector suffered another round of widespread layoffs
during the third quarter, with computer firms slashing jobs most
aggressively, a report said on "High-tech job cuts are on the way up as the
end of the year approaches," said John A. Challenger, chief executive officer
of Challenger, Gray & Christmas. "Behind this trend is the fact that
technology companies have virtually no pricing power,"
Job cuts in technology jumped 60 percent between July and September to
54,701, compared with 34,213 layoffs in the second quarter. Computer
companies alone saw job cuts jump 127 percent, to 30,624.
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