Tech layoffs loom as companies cut costs, but some still pay top dollar.
Despite mass layoffs in the US tech industry, companies are still hiring in areas they see as mission-critical, with contract positions commanding $120-an-hour wages. The tech industry now claims the biggest share of market value in the S&P 500, accounting for about one-quarter of the index, and about 6% of US gross domestic product, with the average pay in tech nearly twice that of the typical US worker.