As the dot-com shakeout lumbers along into the holiday season, scores of businesses and potential stock option fortunes are not the only assets being left by the wayside. For six consecutive months, employees have been laid off at an alarming rate by dot-com companies either desperate for profit or closing shop altogether. While the news is indeed jarring — few events can disrupt a household as dramatically as the loss of a job — looking at the trends affecting those who have been laid off may offer some reassurance. There is evidence to suggest that skills developed by workers in the dot-com arena leave them well-prepared when seeking new employment.Last week, outplacement firm Challenger, Gray and Christmas, Inc. reported that layoffs among dot-com companies for the month of October had reached a record 5,677 — an 18 percent increase from September — bringing the tally of job cuts for the year 2000 to 22,267.Many of the lost dot-com jobs are byproducts of firms that have failed. However, a great deal of this year’s layoffs are due to companies that are downsizing in a relentless pursuit of cost-cutting and profit-seeking.The numbers are alarming not only because they represent an unprecedented amount… Read full this story
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