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To: Ibexx who wrote (129187)	3/5/2001 4:29:08 PM
From: Ibexx	Respond to of 186894

March 5, 2001 CIOs Say Cutting Tech Budgets in Merrill Survey By REUTERS Filed at 2:54 p.m. ET But, read on... ========================================================= SAN FRANCISCO (Reuters) - Corporations are cutting technology budgets this year and may increase spending only 5-6 percent rather than a previously expected 9 percent, Merrill Lynch said on Monday in a new survey. Interest rate cuts have generally not improved chances for technology spending, chief information officers from 50 U.S. companies and 20 European ones responding to the poll said. ``Prioritization is occurring and projects are being delayed,'' Merrill concluded in its report, the latest in a series that has tested companies' willingness to invest in efficiency as the economy has worsened. Caution has increased markedly since late last year as corporations have dashed hopes that IT spending would be sacrosanct even in lean times. But the corporate technology chiefs said they were still not slowing adoption of Internet technologies, Merrill said. It also saw companies adopting Microsoft Corp.'sWindows operating systems for networks. ``We see strong spending on Windows 2000, NT servers, wireless products, and storage. Softer areas include consulting, mainframes, printers, and outsourcing,'' it added. ``Europeans are less likely to cut, but we fear that a softening Europe may be the next shoe to drop.'' Ibexx