"Employees are our most valuable assets" - You have heard a similar saying from numerous telecom companies. Unfortunately it is only true when the times are good and there is a shortage of people. When the times are bad, employees seem to be the most expensive assets of the companies. The loyal people who helped telecom companies to record profits couple of years ago, are now asked to leave when the global economy is suffering. At the same time many 3G projects are looking for skilled people. Large network operators, which are not retrenching employees, have head count freezes and any job opening is just on temporary basis without any benefits of guarantees. Smaller subcontracting companies are also struggling when network operators are not spending money and project financing is difficult and expensive.
In the telecommunication sector, companies have announced plans to shed more than 450,000 jobs in last 12 months. Here are links to major 3G Vendors layoff lists:
Forbes Layoff Tracker page has daily updated job cut news.