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While the on again, off again economic recovery has left doubts as to whether hiring will rebound this year, the big players in the technology sector are sending perhaps the strongest signals that yes, they are ready to recruit again.
In recent weeks, several of the bellwether companies have issued earnings reports that have signaled a strong rebound in the technology sector. Last week, Intel reported that sales jumped 44% in the quarter, and its profit nearly quadrupled. Rival chipmaker Advanced Micro Devices announced a 34% increase in revenue, and a profit of $257 million - a major turnaround from a year earlier when it lost $416 million. And Google rounded out the good news late last week by reporting that revenue climbed to $6.78 billion in the first quarter, compared to $5.51 billion a year earlier.
That positive earnings picture is expected to continue this week as another group of industry heavyweights release their quarterly results, including Microsoft, Apple, and Amazon. Microsoft’s earnings in particular should be interesting as they’ll provide a glimpse into how well the Windows 7 operating system is performing.
The healthy earnings are a great sign for the industry, but even better are some of the signals companies are sending out about their hiring plans. For the first time in several years the technology giants say they’re ready to hire again – and we’re not talking about small numbers. In some cases, they say they’re looking to bring on thousands of new workers.
Cisco got the party started in February when it announced it was looking to add between 2,000 and 3,000 employees to its 66,000-strong workforce. Intel also noted in releasing its earnings that it would hire between 1,000 and 2,000 people in 2010, the first significant hiring the company has done in about five years.
The Wall Street Journal also reported last week that a string of other Silicon Valley companies were competing for employees, from Twitter, to social networking companies Facebook and LinkedIn.
In a monthly technology hiring report issued by Dice.com, the online hiring service noted there were 62,000 technology jobs listed on the site in April, up from 49,000 in January. An interesting side note is that Tom Silver, Dice senior vice president, noted the hottest word in technology hiring right now is “cybersecurity”. “Already, professionals with “cyber” on their resume can command a 20% salary premium as both the public and private sectors are becoming more aggressive in building their security talent pipeline,” he stated.
Whether you have the word “cyber” in your resume or not, the recent earnings reports and hiring forecasts by the major players have to be seen as the most positive indicators yet that the rebound is indeed taking place.
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