Job-cut figures are skyrocketing as confidence about any imminent recovery in market conditions dwindles. Over the last three months the telecoms industry alone has lost over 290,000 staff, according to reports in the FT. And announcements at the end of July indicate that a further 10,000 UK IT workers will soon be out of a job.
The scale of the cutbacks has repeatedly surprised industry experts who are now bracing themselves for harder times, with the up and coming publication of figures indicating that customer confidence in the sector is at an all-time low.
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