Dot-com slide continues

The dot-com dive gets steeper with over 17,000 dot-com employees worldwide losing their jobs in April, an increase of 7,000 from March, according to figures from job placement company Challenger, Gray and Christmas.

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By  Zoe Moleshead Published  April 30, 2001

The dot-com dive gets steeper with over 17,000 dot-com employees worldwide losing their jobs in April, an increase of 7,000 from March.

The figures from job placement company Challenger, Gray and Christmas suggest that it is not just the dot-coms that are feeling the pressure, but also online ventures by traditional companies.

84% of April’s layoffs are blamed on the general downturn in the industry, but Jan Erik Gustavsson, a former technology advisor to letsbuyit.com and boo.com explained that the dot-coms were too insular in their outlook and too easily caught up in their own hype. “People got carried away being pushed by investors, the media and the market. In many cases, myself and others did things they didn’t fully believe in and we should have put our foot down,” Gustavsson told silicon.com.

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