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.
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.
