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!
Image via CrunchBase
Here on Crenk there’s already been at least two posts on how the social media world has been hit by the economic downturn,
here and
here. Just about every industry has been effected, and as such we’ve seen companies begin to layoff whole portions of their employed team. If employees were not let go, there were changes in management, as seen in
Twitter‘s case.
That being said,
TechCrunch has created a
Layoff Tracker for all the layoffs that have and will be occuring in the coming months ahead. Already last week alone we saw companies like
Zillow,
Pandora,
Adbrite,
Hi5, etc, all get listed as companies doing some trimming to their employed staff.
Keep up with the latest as it happens and see if your favorite company gets listed.
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