Tech hiring may be on the rise nationwide, but not all enterprises are ready to ride the wave. Boston-based State Street Corp. is among those that are cutting their IT staff, reports Computerworld's Patrick Thibodeau. 

As part of a shift in the way it approaches IT, State Street is letting go 530 of its 4,000 IT employees and moving another 320 to IBM (NYSE: IBM) and outsourcer Wipro Technologies, Thibodeau reports. IBM and Wipro will manage infrastructure support and application maintenance. Rather than focusing on support functions, the financial services company plans to put more emphasis on developing in areas that give it a competitive advantage, a company spokeswoman said.

More than 4 million individuals are working in IT, which is 3.39 percent higher than a year ago, according to the labor tracking firm TechServe Alliance. Tech companies appear to be laying off far fewer workers than a year ago. According to Challenger, Gray & Christmas, tech firms let go 60 percent fewer employees in the first half of this year compared to the first half of 2010.

For more:
- see Patrick Thibodeau's article at Computerworld

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