Fears rising in IT sectors over new economic downturn. The situation is definitely grim, posing stiff leadership challenges for Chief Information Officer. But IT initiatives in many cases are proceeding as planned, partly because of a desire among business executives to rely even more heavily on technology to help reduce corporate costs and boost revenues.
For example, Auto Warehousing Co.'s IT staff has been relatively lucky — although certainly not safe AWC processes new cars for automakers, and it's feeling the pain of the drop in car sales. For IT, that means a 24% budget cut this year.
IT wages across US: The 2008-09 recession reduced wages in Silicon Valley last year by about 10%. But even with that drop in pay, tech employees in the Valley remain, by far, the best paid in the U.S.
The positive news comes after the prolonged recession had reduced overall IT employment by some 200,000 jobs, according to the Alexandria, Va.-based IT services industry group, which tracks monthly changes in IT hiring based on its own analysis of U.S.
