IT Hiring Outlook Still Healthy

July 30, 2008 (PLANSPONSOR.com) - Despite the economic slowdown, 60.5% of chief information officers (CIO) anticipate that IT hiring will remain steady, 20.9% anticipate an increase, and only 18.6% anticipate a decrease in 2008.

According to a quarterly CIO survey by Bluewolf, an IT consulting firm, project managers topped the list of job categories that will experience the most hiring growth in 2008, mentioned by 38% of the CIOs surveyed. Other IT jobs in demand include: database managers (17.8%); architects (17.1%); and interactive designers (7.8%).

CIOs are facing many challenges, including reduced budgets, according to 57.4% of respondents. Other challenges cited by CIOs included finding qualified resources (52.7%), the ability to provide career advancement (46.5%), and employee retention (34.9%).

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“The economic slowdown is not having a negative affect on the IT market,” said Michael Kirven, cofounder and principal at Bluewolf, in a news release. “Technology innovation is exploding right now with Web-based apps and the demand for interactive projects. Technology continues to quickly evolve and companies know that to stay ahead of the game, they need competent IT managers, analysts and innovators.”

UBS Now Faces 401(k) Plan Investigation

July 29, 2008 (PLANSPONSOR.com) - Holzer Holzer & Fistel, LLC announced it is investigating possible violations of the Employee Retirement Income Security Act (ERISA) related to UBS AG's 401(k) Retirement Savings Plan.

According to the announcement, the investigation centers on whether UBS and plan administrators breached their fiduciary duties to plan participants by, among other things, making imprudent investments in company stock and otherwise failing to prudently and loyally manage the plan’s investments.

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The bank is facing lawsuits by three states claiming it committed fraud by misleading investors in its marketing of auction-rate securities as liquid instruments that were easy to buy and sell (See NY Next to Sue UBS ). On Monday, reports surfaced that the bank suspended its head of fixed income in the U.S. and global head of municipal securities, David Shulman (See UBS Reportedly Benches Fixed Income Head Amid Auction-Rate Probes).

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