Layoffs at Internet Firms Continue to Rise

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A study of Internet businesses revealed yesterday that layoffs for December increased nearly 20 percent over the previous month to approximately 10,500.


The layoffs for December broke a one-month record for job cuts for the second consecutive month, according to research conducted by recruitment firm Challenger, Gray & Christmas Inc., New York. During November, the previous record-holder, there were approximately 8,800 job cuts.


The firm has tracked layoffs at Internet companies since December 1999. It has recorded more than 41,500 job cuts since then.


During the time during which the firm has tracked layoffs at Internet companies, the services sector, which includes the consulting, finance and information industries, accounted for nearly half of all the cuts with approximately 19,500 layoffs.
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