Dot-com job cuts fall in March

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|hrreporter.com|Last Updated: 04/08/2003

Last month, dot-com job cuts in the U.S., which had been rising, fell to the lowest level since November.

In March, 9,533 employees were trimmed from 25 companies in the sector.

Layoffs were down for the second consecutive month. March cuts were down 18 per cent from February, when 11,649 dot-commers were laid off.

“The declines we have seen in the last two months may be less of a sign that the sector is stabilizing and more indicative of the fact that dot-coms may be running out of jobs to cut,” says John Challenger, CEO of Challenger, Gray & Christmas in Illinois.

“While job cuts have fallen since the January peak, the number of firms closing has actually increased,” he said.

Dot-com job cuts, Dec. 1999 to March 2001

December, 1999: 301

January, 2000: 303

February: 130

March: 25

April: 327

May: 2,660

June: 1,652

July: 2,194

August: 4,193

September: 4,805

October: 5,677

November: 8,789

December: 10,459

January, 2001: 12,828

February: 11,649

March: 9,533

Total: 75,525

Source: Challenger, Gray & Christmas, Inc.

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