, which helps companies analyze and optimize their workforces, found that tech has been impacted by the coronavirus crisis in a different way from other industries. Visier found that the big tech companies, many of which are based in the Bay Area, made bigger job cuts and started laying off workers sooner than companies in other industries.
The study also showed that tech firms continued cutting jobs at high rates after companies in other industries mostly stopped laying off workers. Given that employee expenses, including payroll, tend to make up a significant portion of tech companies' costs, those companies are looking to cut some of those costs during the downturn, Ian Cook, Visier's vice president of people solutions,"High tech is highly dependent on people," Cook said. "We know that they're always quick and careful to manage that cost base.
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