What do tech giants like Electronic Arts, Cisco and IBM have in common? During the tech boom of the early 21st century, it was high hopes and continuous revenue streams. But, lately, tech giants and a number of previously-burgeoning startups are experiencing ebbing numbers and waning momentum.
2013 numbers are weak, some weaker than unimpressive 2012 numbers. Invested businesspeople and CEOs, expecting a return of profits common to the previous boom, are forced to cut corners, compensating for losses by laying off workers, also diverting less funding to otherwise integral departments.
There have been losses but there also have been major gains in the tech industry. It is time for the giants to pick up momentum this year to increasing tech hiring.
But often, losses suffered by tech giants and upcoming startups contradict the hopeful projections of America’s Bureau of Labor Statistics. The department’s estimations see a 22% increase in tech employment by the year 2020, yet brands large and small continue to downsize, letting troves of workers loose amid a volatile industry.
What brands are influenced by the tech downturn? Some information in this infographic may surprise you.
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What are your predictions for tech hiring this year?