Corporate Changes Claim More Job Losses

March 5, 2002 ( - Of the Americans who left jobs in 2001, 80% were prompted by a corporate restructuring, merger, or cutback - up from 74% the year before, a new survey found.

The survey, by workplace consultant DBM, also found that in 2001:

  • job seekers had to spend more time looking. Median search time for a new job was 3.23 months – up a bit from 2000’s figure of 3.07. Older employees over 50 and senior executives had to spend four months and 5.3 months respectively at their job hunts.
  • of those out of work, 60% said they relied most on networking as a job-search tool. Another 7% mentioned search firms while 6% said they went online for Internet job sites. 
  • approximately 77% of all respondents reported finding a full-time position at a new salary averaging $100,000. Almost half got a raise by changing jobs.
  • the greatest demand was in services and the public sector with weaker need for personnel in technology, consumer products, manufacturing and industrial, and financial sectors.

The DBM 2001 study, Career Choices and Challenges of People in Transition, included 4,639 people with a median age of 45.

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