There has been widespread evidence of layoffs, pay cuts and furloughs at IT vendors, and there is more economic pain on the horizon, according to bean counters at GlobalData.
GlobalData reports that, as of the end of May, the number of active jobs in the technology and telecommunications field was down 36.2 percent as compared with the same time last year.
Steven Schuchart, Principal Analyst at GlobalData, said: “Times are tough for enterprise IT vendors. The economic downturn as a result of the COVID-19 pandemic has hit them hard. Some IT vendors, particularly the ones involved in cloud or collaboration, have seen great increases in business, but the traditional vendors and startups are taking a beating.”