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Economy next hit, !Technology! will need bail out

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posted on Oct, 13 2008 @ 01:54 PM
As the economic woes trickle down the next hit as soon as next year will be the technology sector as experts predictions.

It already has devastated the financial, the credit and the big automakers, but so far technology has done relatively well, but for not long, as the economic woes spread to corporate America the technology sector will be affected as much as 170 billion in loses are expected, along with all the jobs cuts.

It is expected that technology companies will lose as much as $170 billion in sales next year, marking the first decline since the dot-com bubble burst in 2001.

The $3.4 trillion industry has managed to avoid being hit by the global recession , but as the recession gets deeper, corporate clients are expected to cut back on computer purchases by as much as 5 percent.

Intel, Microsoft Squeezed by $170 Billion Budget Cuts

Approaching Technology Train Wreck

I guess is not sector in our economy that will not be impacted with the economic woes.

posted on Oct, 13 2008 @ 02:27 PM
yeah I was expecting this, I work for a big network retailer and things aren't really bright lately.

though there are no signs that we will hit rock bottom there is personnel stop at the moment, no more contracts may be given and business isn't very busy.

Let's all hope for the best...

posted on Oct, 13 2008 @ 02:44 PM
reply to post by Grey Magic

I hope that when the time comes the bail out will reach to the technology sector and jobs will be safe, but you know that the first thing the companies does is to cut jobs to cut loses.

posted on Oct, 13 2008 @ 03:13 PM
lol I am glad I have become quite an important workforce there.

I just got a raise last week because I was phone called for another job and they didn't wanna miss me.

if there would be any bail outs for the technology sectors it would probably be only to make up for the loss their shares had on the NASDAQ.

so it will be the same trickery to enrich some people at the top.

And I hope the got doesn't bail out microsoft

though I doubt it since MS is NSA/GOVT best friend...

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