April 11, 2005

According to a new report by outplacement firm Challenger, Gray & Christmas, technology companies eliminated 60,000 jobs in the first quarter of this year, which is twice the number eliminated during the same period last year. The telecommunications industry accounted for more than 35,000 job cuts. Other companies in the computer industry accounted for the remaining layoffs. Many of the cuts have been blamed on the AT&T Wireless/Cingular and the Sprint/Nextel mergers. Other consolidations like AT&T/SBC and the buyout of MCI by either Verizon or Qwest are expected to continue this trend for a while longer.

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