Year-End Telecom-IT Layoff Tracker: HP, Oracle, RingCentral, Intel, 8x8, More

HP, Oracle, RingCentral, Intel, 8×8, Microsoft and Nextiva are among the rush of companies doing business in the channel that have shed workers during the past few months, according to our latest layoff tracker. It’s reached such a fever pitch that news of layoffs is breaking almost daily.

Geopolitical uncertainty and economic indicators pointing to continued economic headwinds in 2023 have prompted a number of tech employers to cut back on their existing workforces and freeze hiring. Furthermore, some of the layoffs are occurring despite profitable quarters and strong outlooks.

Displaced workers could find new opportunities. According to Janco and Associates, the layoffs haven’t slowed IT job market growth. November saw an increase in the number of new IT jobs created. Most of those positions were non-management positions.

The November IT job market includes some 12,500 new positions. Furthermore, the U.S. Bureau of Labor Statistics (BLS) adjusted its number of jobs for the prior two months — up 3,000 from original estimates.

According to the latest BLS data, analyzed by Janco, there are now just shy of 4 million jobs for IT professionals in the United States. For 27 months in a row, there has been an increase in the number of jobs added to the IT job market. Janco sees this trend continuing, but at a slower pace.

Still, an increasing number of channel businesses are handing out pink slips as economic headwinds swirl with no apparent end in sight.

Scroll through our layoff tracker above for a recap of cuts that have occurred during the past few months.