IEEE Spectrum writer Tekla Perry writes: Early this year, analyst Trip Chowdhry from Global Equities Research predicted that the tech world was going to see big layoffs in 2016 -- some 330,000 in all at major tech companies. At the time, these numbers seemed way over the top. Then IBM started slashing jobs in March -- and continued to wield the ax over and over as the year progressed. Yahoo began layoffs of some 15 percent of its employees in February. Intel announced in April that it would lay off 12,000 this year. So, was Chowdhry right? "Yes," he told me when I asked him this week. "The layoffs I predicted have been occurring." And worse, he says, these laid-off workers are never again going to find tech jobs: "They will always remain unemployed," at least in tech, he said. "Their skills will be obsolete." Some of these layoffs are due to a sea change in the industry, as it transforms to the world of mobile and cloud. But some are signs of a bubble about to pop. It's all going to get worse in 2017, he predicts, because that's when the tech bubble will burst. Chowdhry, someone who has never been reluctant to go out on a limb, is predicting that'll happen in March.
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