recession 3

While in the US services sector employment is falling, high tech employment, which is about 8% of the services sector, continues to grow. Meaning technology is still growing, despite the recession. Strange!

Recession. Daimler Chrysler slashes 26,000 jobs. Disney cuts 400. Amazon may have cut 20%. It isn’t nice (1 2). But dot-coms might still do well, since software, labour and real-estate costs will start falling?

Recession? GM shuts 14 plants. Boeing: 1 plant. AMC: 548 theatres. WorldCom lays of 10-15%. HP: 2%. Delphi & Visteon: 10,300. Lucent: 10,000. Sara Lee: 7,000. JC Penney: 5,000. AOL: 2,000.