Photo by Kelly Sullivan/Getty Images for Breakthrough Prize
Sergey Brin, along with Larry Page recently left Google.

US Tech CEO Departures Rise to Record High

Dec. 5, 2019
A record 181 technology industry chief executive officers left their posts this year through October.

Billionaire Googlers Larry Page and Sergey Brin aren’t the only technology chiefs heading for the exits.

A record 181 technology industry chief executive officers left their posts this year through October, surpassing the prior full-year peak of 163 departures in 2006, according to a report on Dec. 5 from staffing firm Challenger, Gray & Christmas Inc.

The latest tally, which includes both involuntary and voluntary exits, is up 46% from the same 10-month period last year and 19% higher than the 152 CEO departures in 2018.

The churn isn’t confined to the corner office. Technology led the way for announced job cuts at U.S.-based employers in November with 7,292, the most among 30 industries tracked by the Chicago-based firm, and also ranked first in the prior month with 15,898.

“The tech sector is undergoing major changes due to an evolving landscape,” Challenger vice president Andrew Challenger said in a statement.

“New technologies are changing the way people work and often make workplaces more efficient," Challenger added. "In addition to potential staffing changes, there may be differences within the leadership and board ranks regarding exactly which path a company will take.”

From January through November, technology companies announced plans to cut 63,447 jobs, the third-most among industry groups and almost five times the number in the same period last year. 

By Jeff Kearns

Popular Sponsored Recommendations

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

The Ultimate Ecommerce Excellence Checklist

Oct. 2, 2023
Scaling ecommerce operations is no easy task when your business is moving fast. Assess your current ecommerce maturity level and set optimization priorities with this practical...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!