The technology industry, an engine of innovation and U.S. prosperity for more than half a century, is accelerating its recovery from the recession with surging earnings that have spurred companies to sharply ramp up their hiring.
The latest evidence for the rebound came Thursday (April 15), when Internet giant Google Inc. posted a 37 percent profit jump for the first quarter and chip maker Advanced Micro Devices Inc. reported a 34 percent revenue increase to record levels. The results follow the strong showing of bellwether Intel Corp., which Tuesday announced quarterly profit that nearly quadrupled on a 44 percent jump in sales.
Tech growth has reached a level where tech companies are pushing to hire again, in some cases engaging in heated competition for talent. That's a turnabout for the industry, which had a series of layoffs last year, when some tech giants, notably Microsoft Corp., had mass layoffs for the first time.
The hiring ramp-up began late last year, with demand for tech goods and services stabilizing after months of declines. The hiring isn't limited to tech behemoths, with smaller Silicon Valley companies also diving headlong into the race for people.
From The Wall Street Journal
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