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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61389)	3/4/2002 11:16:34 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

3/04/02 - Dot-Com Job Cuts Lowest In 22 Months host.wallstreetcity.com CHICAGO, ILLINOIS, Mar 04, 2002 (Newsbytes via COMTEX) -- The dot-com job death march thinned out last month, recording the lowest number of casualties in nearly two years, according to a report issued today. But, while the decline suggests the battered Internet sector may be rising from economic quicksand, there are no signs that dot-com firms will shift into hiring mode anytime soon. Some 670 dot-com jobs were eliminated in February, nearly 63 percent fewer than the previous month's 1,802 and well below the April 2001 peak of 17,554, said a report by outplacement firm Challenger, Grey and Christmas. Just 327 people in the dot-com sector were pink-slipped in April 2000. "Unfortunately, the dramatic decline in job cuts is not necessarily good news for the sector," Challenger CEO John A. Challenger said in a news release. "Its ranks have been decimated and right now there is no indication that we are going to see a major rebound in hiring." The report said 300 of February's dot-com job cuts took place in the financial sector, followed by 159 consumer services positions and 110 job in technology. Challenger said 144,912 jobs have been cut since the firm began tabulating dot-com employment statistics in December 1999, noting that most of the reductions - 93,447 - were made between November 2000 and June of last year. It could be years before dot-com companies begin taking on significant numbers of new people, and it's unlikely that the industry will ever see a return to the hiring frenzy of the late 1990s, Challenger said. By Dick Kelsey Reported by Newsbytes.com, newsbytes.com