Tech Job Cuts Falling

March 4, 2002 ( - The Internet sector job scene continued improving in February with the amount of announced job cuts well down from January 2002.

According to outplacement firm Challenger Gray & Christmas Inc., which regularly tracks job cuts, there were reportedly 670 positions cut in February, about a third of the 1,802 from January. February’s figure was way below February 2001’s report of 11,649 axed technology jobs.

Almost half of the February job cuts came from the internet-related financial sector, followed by consumer services.

The Challenger Gray report was not optimistic about future tech job prospects, pointing out that many of the surviving Internet companies who reduced staffing levels are still trying to turn a profit.