Dot-Com Job Cuts Fall as More Firms Close
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Job cuts at U.S. dot-coms fell to one-year lows in August, while the number of companies closing more than doubled, according to outplacement firm Challenger, Gray & Christmas.
Internet firms cut nearly 50% fewer jobs in August than in the previous month, with layoffs totaling 4,899. This is the lowest monthly figure since August 2000, when dot-coms cut 4,193 jobs.
The number of company closings totaled 21 in August, compared with nine in July. So far this year, 248 dot-coms have shut down.
Since January, dot-coms have announced 87,795 job cuts, more than double the 41,515 announced last year.
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