Friday 3 October 2008, 11:58 AM
Which sectors are being hardest hit?
Sobering story in the Times yesterday about how major manufacturing companies are cutting back on overtime and 4 day weeks to respond to falling demand...
http://business.timesonline.co.uk/tol/business/economics/article4860551.ece
Story also mentions how smaller supplier companies are being affected as a result - they are seeing declines in orders for the components they manfuacture. This is the first clear evidence I have seen of the trickle down effect....
So what does this mean for the tech sector? are projects being cancelled as companies cut back? are businesses delaying upgrades to hardware / software? are service deals being reviewed to get better value?
We have put a freeze on any non-essential IT purchases for 6 months as a pre-emptive measure but without any direct evidence of slowing revenues - anymore examples?
http://business.timesonline.co.uk/tol/business/economics/article4860551.ece
Story also mentions how smaller supplier companies are being affected as a result - they are seeing declines in orders for the components they manfuacture. This is the first clear evidence I have seen of the trickle down effect....
So what does this mean for the tech sector? are projects being cancelled as companies cut back? are businesses delaying upgrades to hardware / software? are service deals being reviewed to get better value?
We have put a freeze on any non-essential IT purchases for 6 months as a pre-emptive measure but without any direct evidence of slowing revenues - anymore examples?
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