The boom of the '90s made those working in technology feel like they were 18 again and behind the wheel of a muscle car: invincible. But the days when a college grad with a computer science degree could start work with $75,000 a year have disappeared. Tech personnel have even had to suffer through an indignity they never imagined-layoffs.
Techies.com, an e-recruiting Web site recently surveyed 700 out-of-work technology people and found some sobering news-the demand just isn't there today. Of the 700 people interviewed for the July study, 76 percent had been out of work for at least six months. “Most of them were with companies that either ran out of money or had to make major cutbacks,” said Cynthia Morgan, vice president and executive producer of the site.
According to Morgan, more than one-third of those surveyed had no inkling a layoff was imminent. Fourteen percent expected layoffs, but felt it would happen to other people in the department. “It's human nature to think that your contribution to a company is more important than that of others, but some of it is self-delusional,” she said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
