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Investing January 31, 2002
Dot.Com Layoffs Still Falling
January 31, 2002 (PLANSPONSOR.com) - The dot.com job
bloodbath appears to be letting up.
Reported by Fred Schneyer
Outplacement firm Challenger, Gray & Christmas said the number of planned employee cuts from Internet companies fell in January for the third month in a row to reach the lowest level in 19 months, according to a Bureau of National Affairs report.
According to Challenger, dot.com companies planned to shed 1,802 jobs this month – down by 25% from December’s 2,403.
Among those planning job cuts, equipment-providing technology firms were hit the hardest with more than twice the number of cuts planned by technology-service companies.
Internet job cuts reached a high of 17,554 in April 2001. The current level is 86% lower than a year ago, when 12,828 Internet job reductions were announced, the report said.