For anyone who thought IT would be fairly immune to the recession, it’s time to think again, as companies have gone to the wall, and even the biggest are shedding jobs.
IBM and Texas Instruments are the latest to announce layoffs, and the figures are eye-watering. TI has said it’s likely to get rid of 12% of its workforce, some 3,400 jobs, although 1,600 of those will be made up of those taking voluntary retirement and golden handshakes, the other 1,800 being layoffs.
Although the deal is likely to cost the company $300 million in severance pay, the annual salary savings will be around $700 million.
