Wednesday, November 26, 2008

Technorati Layoffs- A Warning Sign for Blogs & Tech?

I don't want to sound like Chicken Little, but the latest report of layoffs at Technorati, the cost-cutting moves at Cisco, and the sagging status of many stocks make me wonder if the sky is falling on the tech industry-including blogs and online news.

Just take a look at the Layoff Tracker at TechCrunch if you think I'm an alarmist. According to TechCrunch's stats,231 companies have laid of a total of 79,147 employees since August 2008.

Companies with plentiful pink slips include:
BT Group-cut 9,999
Dell-cut 8,900
Sun Microsystems-cut 5,000
Virgin Media-cut 2,200
Motorola- cut 3,000
Gannett-cut 3,000
Freescale-cut 2,400
Yahoo-cut 1,500
Nortel-cut 1,200
Circuit City-cut 800 (more expected)

It's not over till the fat lady ( A second Great Depression) sings, but these figures make me wonder if we're on the brink of disaster. For the record, I'm an advocate of free markets, but I don't see any positive signs for our short-term economic future. Personally, I think downturns like this are inevitable and cyclical around every 100 years or so. Without an industry to fall back on, I can't help but wonder where these jobs will be filled.

Posted By Matt O'Hern at 09:57 AM
Permanent Link: Technorati Layoffs- A Warning Sign for Blogs & Tech? | Comments (2)

(2) Comments on Technorati Layoffs- A Warning Sign for Blogs & Tech?

Man I hope not, I just started my blog and now the industry is tanking? I think it's going to be okay, the economy is and always will be like a roller coaster.

Comments by Hoop Soup : Tuesday, December 02, 2008 at 06:41 PM

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Betty

http://www.my-foreclosures.info

Comments by Betty : Friday, December 19, 2008 at 01:25 AM

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