This research replaces fear with sound economic analysis, allowing for an informed approach to the global marketplace."Īmong the findings were that worldwide sourcing boosted the U.S. The savings produced through worldwide sourcing are invested in new products and services, in new market expansion, and, most importantly, in creating new jobs and increasing real wages for American workers. Far from being an economic tsunami that washes away domestic IT employment as some believe, global sourcing helps companies become more productive and competitive. "We have long held the position that global sourcing creates more jobs and higher real wages for American workers," said ITAA President Harris N. economy to perform at a higher level, has many other economic benefits. jobs, improves wages for American workers, and by pushing the U.S. economy and the IT industry indicates that worldwide sourcing of computer software and services actually increases the number of U.S. However, a survey released by the Information Technology Association of America (ITAA) on the impact of offshore IT software and services outsourcing on the U.S. CRN will update this list on an ongoing basis.Controversy has dogged the IT outsourcing industry in recent months, both here in Australia and in other Western economies, with many observers claiming that the increasing amount of IT jobs being outsourced to countries such as India would have a detrimental effect on the domestic economy. What follows are details on the cybersecurity companies that’ve instituted layoffs so far in Q3 of 2023. Still, staff at a number of notable cybersecurity companies have recently been impacted by layoffs - a difficult event, but also potentially an opportunity for other companies looking to hire talent. Some of the unique factors for why cybersecurity spending is often more resilient than other segments of IT include intensifying cyber threats - particularly data theft and extortion, of late - along with increasing cyber insurance requirements and regulations such as the new SEC incident disclosure rule. Apart from company-specific reasons, there are also a number of factors behind why there haven’t been more layoffs in the cybersecurity industry since the economic picture dimmed in mid-2022. Built-In SpendingĪt the same time, a number of major employers in the sector, such as Palo Alto Networks and CrowdStrike, are not known to have carried out major layoffs in 2023 (or in 2022, for that matter). In many cases, however, the cybersecurity vendors that’ve laid off staff have positioned the cutbacks as the right move for the longer-term health of the company, enabling its spending to be targeted where the biggest opportunities are. A few of the recent staff reductions have been among the most significant in the cybersecurity industry this year, as in the case of Rapid7 and its roughly 470 layoffs disclosed in early August. Notably, these latest cybersecurity company layoffs have impacted employees at some of the best-established names in the industry, including Fortinet and Rapid7. As sluggish economic conditions have dragged on, a handful of additional cybersecurity companies have turned to staff cuts during Q3 of 2023. Cybersecurity company layoffs came earlier this year for some of the largest pure-play security vendors, including Sophos and Zscaler, as well as for a number of smaller product makers in the market. While cybersecurity is widely considered among the tech sectors least likely to see spending cuts, security vendors haven’t been immune to layoffs in 2023.
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