“Danger Will Robinson…Danger”
For those of you not following TechCrunch’s Layoff Tracker, the tech industry is taking a major hit. So far a total of 44,283 (to include HP’s release) people are gone from their respective companies. Is this another Dot Com Bust?
How bad is this? Well, pretty bad considering that most tech startups are staffed minimally to keep costs down. Some companies have been forced to cut as many has 1/3 of their staff, some up to 50%.
I were Chicken Little, the sky would definitely be falling right now!
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2 Comments
It isn’t just the Tech or Startup world either. In Canada, I live in a city of 36k people. From May 2008 to May 2009 there are currently 3500 jobs leaving this city because of major vehicle manufacturing companies pulling out of Canada. There are now over 350 houses for sale here, and we don’t even have the same housing crisis that the US is going through.
The whole economy is shifting and doing a reset here and there. It is not good, but many say it was necessary.
I also agree. I think it was necessary. Everything was just getting out of control.