Recessionwatch Update

Job losses over the last few weeks: Motorola: 4,000 jobs today, for a total of 22,000 since December. Lucent: 16,000. Verizon: 10,000. Nortel: 10,000. Compaq: 5,000. Intel: 5,000. Xerox: 4,000. Gateway: 3,000. Hewlett-Packard: 1,700. Dell: 1,700. Amazon: 1,300. 3com: 1,200. Oracle: 800 It’s also rumored that Sun are planning to ditch 10% of their employees, and Cisco are giving 5-10% of their staff unmatchable targets so they can force them to resign without calling it a layoff.