Study: Telecom Bears Brunt of U.S. Job Cuts

One-third of job cuts in the U.S. announced in the first six months of the year came from technology companies, led by the telecommunications industry, said a report by executive placement firm Challenger, Gray & Christmas Inc.

One-quarter of jobs eliminated were in the market for communications equipment and services.

Technology companies have cut 243,200 of the 735,527 total jobs lost in all industries since January.

California, the largest high-tech employer, with 998,000 jobs in 2001, saw job growth slow to just 1 percentage point over 2000, contrasted with a 13% rise between from 1999 and to 2000.