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Internet industry layoffs finally decline

02-June-2001
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Internet industry layoffs finally decline

Layoffs in the Internet industry declined by 24% in May 2001, finds a Challenger, Gray & Christmas (CGC) report. The number of dot-com pink slips dropped to 13,419 worldwide, a month after April’s record-setting 17,554.

With 5,860 job cuts in May, companies that provide infrastructure support to other dot-coms led all sectors for the third consecutive month. Close behind were customer service firms (3,462 cuts), professional services firms (2,265) and Internet portals (955). CGC found that layoffs in the e-tail sector dipped considerably, from 2,284 in April to just 310 in May.

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