Bad news from the IT sector

Source: New York Times

Link : http://www.nytimes.com/2008/11/15/technology/15tech.html?_r=2&hp=&adxnnl=1&oref=slogin&adxnnlx=1226724838-eLfaJA7UVpZwgASzxsZgtg&oref=slogin

"And on Friday, Sun Microsystems, a leading maker of computers used by financial services companies, announced that it would lay off as many as 6,000 employees, or 18 percent of its work force"

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Comments

nel

Yeah, its sad times regardless of which sector you work in i think. This seems to be the common trend for most companies now.

mamono

Times are tough... Dig in for the long haul... :S

blargoe

Might as well throw some fuel on this fire

In the span of just a few weeks, orders for both business and consumer technology products have collapsed, and technology companies have begun laying off workers. The plunge is so severe that some executives are comparing it with the dot-com bust in 2001, when hundreds of companies disappeared and Silicon Valley lost nearly one-fifth of its jobs.

October "was like turning a switch," said Robert Barbera, chief economist at the Investment Technology Group, a research and trading firm. "Everything pretty much shut down."

Source: http://www.iht.com/articles/2008/11/15/technology/dotbust.php

empc4000xl

I always wondered how this would affect us. We have had openings for a while and they are not going to freeze them because we are getting pounded with work. As the economy slows and more people are layed off the work still has to be done with that being said, there will be plenty of opportunities for people who can do more with less. Its just up to each of us to find where we can fit in.

CCIEWANNABE

go gov't contractor if possible. i don't think that the gov't will go down anytime soon

i know a lot of people who are looking for gov't positions that work for big corporations. times are hard, but there will always be a need for it specialists supporting the gov't and military.

vincentnyc10

CC?PWANNABE wrote:

go gov't contractor if possible. i don't think that the gov't will go down anytime soon
i know a lot of people who are looking for gov't positions that work for big corporations. times are hard, but there will always be a need for it specialists supporting the gov't and military.

gov't won't go down soon...but they can sure reduce spending and hiring. where do u think they are getting their money from? taxpayers....that's who!!! how is the gov't going to get money from them once everyone is unemployed? i just read online news that the other day that the us postal service will be laying off 40,000 workers. all gov't jobs. i hope they will lay off other gov't jobs that contribute nothing to society like irs agents.

it is affecting everyone...there is no job out there that is recession proof.

Kasor

I agree, get a govn't job right now and at least you get something, experience and pay.