June 1, 2010 9:34 PM
In September of 2008, Hewlett-Packard (HP) took over information technology (IT) provider Electronic Data Systems, and then proceeded to cut 24,600 jobs. Today HP announced that it will be cutting about 9,000 more. Lately, technology firms in Silicon Valley have starting recruiting more aggressively again. But will there be enough technology jobs in the Valley for the 9,000 Hewlett-Packard employees that will be laid off over the next several years?
HP says that it will also be adding a total of 6,000 jobs to its sales and delivery teams, but the 9,000 laid-off employees will be from IT. The IT jobs will disappear as HP automates more of the services that it provides to clients. Some technology companies in the area, such as Google, Intel, and Cisco are adding jobs. But analysts say that many technology jobs are starting to migrate to other cities -- and laid-off technology workers are beginning to follow. [More]