Silicon Valley Losing Middle-Wage Jobs
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Silicon Valley is in danger of creating its own digital divide; the California high-tech region is losing its middle-class work force at a significant rate.
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The struggling chipmaker will eliminate around 10 percent of its workforce -- most cuts coming in management, marketing and IT -- as part of its biggest restructuring since the mid-1980s.
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The United States will lose more than 400,000 jobs this year to Mexico, China, India and other Asian nations as multinational corporations restructure operations and shift production overseas, a study showed.
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The number of information technology jobs in the United States have continued to fall since the end of the 2001 recession, driven mostly by outsourcing to low-wage countries
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Software maker Computer Associates  CA.N on Wednesday said it would cut 800 jobs, or 5 percent of  its work force, to pare costs amid stiff competition in  software and services.
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Challenger, Gray &amp; Christmas reports that the US information technology industry lost 54,701 jobs in the July through September quarter, which is an increase of 14 percent from the same quarter last year.
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Disappointing earnings guidance from tech heavyweights reignited fears of a U.S. recession.
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The company's development group has been hit with layoffs.
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First came the dot-com gold miners. For those who stayed on after the bust, there was still some silver to be found. But for latecomers and recent graduates seeking to cash in on the latest Silicon Valley craze, it's mostly decent paid salary work that's left.
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SAN JOSE, Calif.  --  Chip-maker Intel Corp. said Tuesday it will eliminate 10,500 jobs  --  about 10 percent of its work force  --  through layoffs, attrition and the sale of underperforming business groups as part of a massive restructuring.
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By JORDAN ROBERTSON, THE ASSOCIATED PRESS  SAN JOSE, Calif.  Chip maker Intel Corp. said Tuesday that it will eliminate 10,500 jobs  about 10 percent of its workforce  through layoffs, attrition and  the sale of underperforming business groups as part of a massive restructuring.
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Intel Corp. INTC.O said on   Tuesday it is cutting 10,500 jobs, or about 10 percent of its   work force, as part of a plan by the world's biggest microchip   maker to become more competitive.
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Silicon Valley has long been the stuff of dreams, a place where gawky entrepreneurs create billion-dollar companies in their garages, their innovations sometimes bending the rules but forever changing the way we listen to music or chat with friends.
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The subprime scandal has sent investors looking for new homes for their money. Silicon Valley, however, may not be it.
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In Silicon Valley, buying rather than building from the bottom up is seen as counter to the reinvention culture.
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Tech bellwether cites drop in demand for PC processors and flash memory.
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Computer Associates will cut 800 jobs,  the software maker said on Wednesday, reducing its work force 5  percent in its biggest cost-cutting effort since 2001 amid  slack demand and falling prices for software and services.