Dot-com doldrums lead to pink-slip hurricane, report says

Published on .

Most Popular
New York--Outplacement firm Challenger, Gray and Christmas Inc. said Thursday that dot-coms are slashing employees at a record pace to cut costs and please investors. Challenger, Gray recorded a total 11,785 job cuts by 169 companies since December. Retail Internet companies were the top corporate slashers with 3,562 cuts, followed by services with 2,239. New York-based Challenger, Gray said the cuts would not have a dramatic effect on either the economy or the individuals involved because of the high demand for skilled technical workers.
In this article: