Layoffs, warnings bruise tech sector, but parties help

Despite layoffs, bankruptcies, closures, collapsing stock prices, slumping morale and canceled IPOs, parties help heal the sting of today's economic meltdown.

CNET News staff

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CNET News staff

Jan. 2, 2002 4:43 p.m. PT

2 min read

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Despite layoffs, bankruptcies, closures, collapsing stock prices, slumping morale and canceled IPOs, parties help heal the sting of today's economic meltdown.

"There is considerable upheaval, transition...and intensified competition in (the Internet consulting) sector."

- Stephen McClellan, Merrill Lynch analyst

Layoffs, warnings, slump bruise tech sector

What's behind the dot-com decline
Tim Miller, president, Webmergers.com

Layoffs, bankruptcies, closures, collapsing stock prices, slumping morale and canceled IPOs: The only scourge that hasn't ravaged the tech sector, it seems, is a swarm of demon locusts.

From laid off to lounge lizard
People laid off from their dot-bombs are the guests of honor at "Pink Slip" parties, which are becoming the latest in networking and job-hunting.

Scient cuts 460 jobs in restructuring
The Internet consulting company cuts about 25 percent of its work force to lower its costs.

Viant layoffs the latest amid consulting crunch
The Internet consulting company becomes the fourth in the industry to announce layoffs this week as it says it plans to cut costs by laying off about 125 employees, or nearly 20 percent of its work force.

Women.com lays off 25 percent in cost-cutting move
The Web site featuring community bulletins, health tips, relationship advice and other services, lays off 85 employees to try to slash costs and turn a profit next year.

Oxygen Media pares down online business
The women's online network says it is laying off 65 employees and closing its Seattle office as it reorganizes.

Online calendar company trims staff
eCal, which provides calendar features to companies such as the Go Network, lays off more than 10 percent of its staff to cut costs.

HarvardNet drops DSL business, lays off 280
The regional high-speed data communications and Web-hosting company says it will restructure its business model and lay off about 58 percent of its work force.