Technology layoffs soared in the month of August, with job cuts rising by roughly three times the level of the previous month for the computer and telecom industries, according to a report released Thursday by outplacement firm Challenger, Gray & Christmas.
The telecom industry, meanwhile, posted 2,620 job cuts in August, up from 803 the previous month, according to the report.
Cisco’s planned reduction of 4,000 positions contributes to a significant portion of the technology layoffs announced in August, but companies including Symantec, Salesforce, Level 3 Communications and others say they are paring their staff as well.
It’s important to note, however, that the report deals only with announced layoffs. The totals could be even higher because some companies, such as IBM, tend to stay mum about such moves. IBM’s recent layoffs, for example, came to light from documents it filed with the State of California