Global Recession Impact on the Internet Job Market
If you have been in a cave for the last 8 months and just got out (you probably should have stayed), you have noticed that the global economy is in recession. It is a reality; the acronyms GFC or GEC are more popular than PPC and social medias are invaded with articles on how to survive the recession.
On a different note, the global recession has also hit the internet job market. Even if the industry seems to be stronger than others, the global technology sector has joined all other industries. Whether it is called a "recession plan", "preventive measures" or "restructuring", many internet companies (even profitable ones) have announced jobs cuts worldwide:
- Google (Search Engine - Advertising Network): Officialy .100 recruiters, + 10,000 contractors.
- Yahoo (Search Engine - Advertising Network): 10% of the workforce (1,520 jobs).
- Digg(Social Media): 7 jobs out of 75 employees
- HI5(Social Network): 10 to 15% of the 110 employees
- eBay(Shopping/Classified0:1000 Jobs (10% of the workforce)
- AdBrite(Advertising Network): 40% of the workforce
- Pandora(Internet Radio):20 jobs
- SearchMe(Search Engine): 20% of the workforce
- TicketMaster(Shopping): 35% of the workforce (around 1000 jobs.
- LinkedIn(Social Network): 10% of the workforce (36 jobs)
- Akamai(Technology): 7% of the workforce (110 jobs)
- BuzzNet (Social Network): 15 jobs
you can find the full list here
While affected, it seems that Australia is not doing too bad. In many cases, Australian employees have not been laid off, which is a positive sign.
