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Benefits May 29, 2001
Dot.com Cuts Drop Some
May 29, 2001 (PLANSPONSOR.com) Dot.com job cuts
appear to be slowing in May, after an all-time high in April
according to a new survey.
Reported by Nevin E. Adams
According to outplacement firm Challenger Gray & Christmas, May’s 13,419 reported job cuts are down 24% from April’s tally.
However the firm said the total 64,983 cuts made so far this year is already 60% higher than the total layoffs in the sector for all of 2000.
For the third month in a row most of the dot.com cuts came from Internet technology, or infrastructure companies. Consumer service companies were second-worst hit.
A year ago, the sector reported just 2,660 job cuts.