A recent report shows that the nation's technology job picture is continuing to undergo a sweeping transformation. Staffing firm Challenger, Gray, and Christmas has released a report that shows that US technology job cuts has accelerated greatly in the last quarter. The firm is reporting that job cuts in technology jumped between July and September to 54,701 layoffs reported, up from 34,213 layoffs the previous quarter.  The company said that computer companies alone had a 127% increase in job cuts.

Separately, Indian offshore outsourcing firms reporting their quarterly results say that business is booming. Wipro Ltd., one of India's largest offshoring firms, reports that its employees rose by 18% last quarter, adding 5,546 employees. Competitor Tata Consultant Services Ltd. also reported robust results, with a 12% increase in total employment. Infosys Technologies Ltd. also reported an 18% increase in employees, from 27,939 to 32,949 employeees. The reports point to an ongoing restructuring of the US high technology economy, as firms looks to cut costs and tap into the lower cost of employees offshore.