Technology and media companies announced 3,500 jobs cuts in April, a 59% drop from March that partly reflects the country’s robust employment picture, but nevertheless suggests the industries are still under pressure.
Technology companies, including telecommunications, accounted for 3,105 of the announced layoffs while media companies said they planned to cut 395 positions, according to state regulatory filings, news reports and data collected by staffing firm Challenger, Gray & Christmas. The number of media cuts announced in April was by far the lowest of any month this year and tech reductions were the lowest since February. However, cumulative job cuts in both industries are higher through the end of April than in the same period last year, the data show.
