Internet Layoffs Could Mean Company's Doom on Horizon

Share this article:
Cutting staff may not be the panacea troubled dot-com's think, and according to a new survey may foreshadow a company's demise.


One in five Internet companies that say they have cut staff since December has gone out of business, according to a survey by Challenger, Gray & Christmas, a job placement company based in Chicago.


The company's survey showed that 2,194 Internet jobs have been cut since an earlier report was released a month ago, bringing the total job cuts at companies that run Web sites to 7,592 since December.


Out of the 122 companies that have let employees go over the past eight months, 24 of them, or 20 percent, have gone out of business. The survey was based on news reports of Web-related layoffs.


Internet retail accounted for the largest portion of the job cuts: 1,812 jobs, or 24 percent. Business to Business companies have fared better.
Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Is the Next Mobile Already at Hand?

Is the Next Mobile Already at Hand?

Researchers quibble about just how big the Internet of Things is going to be, but a new report says it's going to be huge and that marketers need to pay ...

Sony Brings Data to Outdoor Advertising

Sony Brings Data to Outdoor Advertising

Norwegian moviegoers got front-row seats when Sony took dynamic digital ads off the Web and into theaters.

Ramp Introduces Video Platform for Marketers

Ramp Introduces Video Platform for Marketers

The cloud-based platform syncs with marketing automation and capitalizes on user behavior to extend view times.