Global Recession Impact on the Internet Job Market

Thursday, 5 February 2009

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.


Unknown said...

These figures are substantial, and it's easy to forget there are real people behind those numbers.

As far as people needing jobs or at least a means to make income, maybe it's time to be more creative during this economic slump, and think more outside the box of wanting to look to work for another in the first place?

I'm rather amazed that there are plenty of skill sets that are for whatever reason not "conventional" enough to be taught in schools, but the mastery of which would lead to more autonomy.

Most of us are trained to be employees- nothing wrong with that, but I'm convinced that thinking that way is a kind of tunnel vision that keeps many from learning skills that wold allow them to carve out there own path to income.

One of them is as close as the computer in front of you. For the first time in history, we are 3 feet in front of the world, yet few learn how to use it in a way to render 1) value to others and 2)income for themselves.