Technology companies cut nearly 60,000 U.S. jobs in the first three months of the year, twice the number trimmed in the same period last year and the biggest loss of jobs in the sector since late 2003, according to a new report.

The telecommunications industry accounted for the bulk of the cuts, with more than 35,000 layoffs in the first quarter, said outplacement firm Challenger, Gray & Christmas, which issued the report Monday. The computer industry laid off about 16,100 workers.

The firm attributed the jump in job cuts to a surge in telecommunications mergers, such as the purchase of AT&T Wireless by Cingular Wireless and Sprint’s merger with Nextel.

Source: News.com