Business Services Industry
Signs of slowdown in dot.com job slide; Company closures spike, but layoffs hit one-year low.(Brief Article)(Statistical Data Included)
Crain's Chicago Business, September, 2001 by Almer, Ellen
Dot.com layoffs in August dropped to their lowest levels in a year, a sign that the downturn in the Internet sector may have hit bottom, according to the latest survey by Chicago-based outplacement firm Challenger Gray & Christmas Inc. Nationwide, dot.com layoffs for August totaled 4,899, a 44% decrease from July, according to the survey released Tuesday.
It is the lowest monthly figure since last August, when there were 4,193 dot.com layoffs. At the same time, though, the number of companies that closed up shop last month more than doubled to 21, up from nine in July. So far this year, dot.coms have laid off 82,896 people, more than double the 41,515 laid off in all of 2000. April was the worst month, with 17,554 cuts. Despite the grisly totals, John...
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