Benefits April 27, 2001

Dot.coms Shed Record Number of Jobs in April

April 27, 2001 (PLANSPONSOR.com) - Dot.coms have already cut a record 17,554 jobs in April, up more than 80% from a month ago.
Reported by

In April 2000, just 327 jobs were cut in the dot.com sector.
 
“Pure” Internet companies announced 6,059 job cuts this month, according to outplacement firm Challenger, Gray & Christmas. 

The sharpest jump in job reductions came in online financial services sector, which suffered 2,341 cuts this month, up from 302.  Consumer services cut 2,959 positions, while retail trimmed 2,284 jobs.

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Year-to-date, the dot.com sector has announced 51,564 reductions, roughly 10 times as many as the first six months of 2000, according to Challenger.


 

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