13,000 Tech Jobs Disappear In One Day

13,000 Tech Jobs Disappear In One Day

Around 13,000 jobs in the technology industry were cut on Thursday 4 December alone, and industry forecasts suggest that the near future is not looking bright.
Online video software firm Real yesterday announced that it will cut 7.5 per cent of its employment base, which amounts to around 130 staff.



Digital media firm Viacom said in a statement on Thursday that it will reduce its headcount by approximately seven per cent, or 850 positions, and will suspend senior level management salary increases for 2009.



But the biggest cuts by far came from telecoms giant AT&T, which announced that it will cut roughly 12,000 employees from its ranks. The reduction accounts for some four per cent of the company's staff, and could cost $600m (£407m) in severance expenses.