Larry Page and Sergey Brin, Google’s co-founders, are not the only tech executives to fall back, Bloomberg reported. A record 181 tech chief executives resigned between This year and October, according to a report released Thursday by Challenger, Gray and Christmas Inc., a Chicago-based consulting firm.
The previous record was maintained in 2006, with 163 CEOs leaving for the full year. The latest figures, which include voluntary and forced resignations, are up 46 per cent from the first ten months of last year and 19 per cent higher than the 152 CEOs who resigned in 2018.
Turbulence is not limited to senior management. The technology sector shed 7,292 jobs in the U.S. in November, the highest number in more than 30 industries, according to the consultancy, and the largest number of layoffs in October was 15,898.
“The technology industry is also undergoing significant changes because of changing forms,” Andrew Challenger, vice president of Challenger, explained in a statement. In addition to potential personnel changes, the different development paths chosen by the company can also lead to changes in leadership and board of directors. “
From January to November, technology companies announced 63,447 job cuts, the third-highest number in any industry and more than five times the same period last year.