Many laid-off high-tech workers leaving the field

Average career for high-tech workers is only four years, nearly half leave the field when let go
||Last Updated: 11/21/2002

High-tech workers stay on the job less than half as much as other workers, and nearly half leave the field entirely once they’ve been let go from their jobs, according to a new study.

The study, by Drake Beam Morin (DBM), looked at workers in the high technology, chemicals and pharmaceutical and financial services industries around the world. The study found globalization, competition and corporate restructuring are having a significant impact.

“Clearly, all three of these sectors are experiencing a changing economic environment,” said Russell Sheppard, vice-president of sales and marketing for DBM Canada. “High technology continues to experience consolidation among telecommunications organizations. Stumbling economies and over-hyped e-commerce initiatives have put a damper on business capital and consumer confidence. These three sectors can likely expect continuing organizational change in the form of mergers, acquisitions and consolidations, all of which impact on the employment realities of people working in them.”