The technology industry, which resisted the economy's growing weakness over the last year as customers kept buying laptops and iPhones, has finally succumbed to the slowdown, reports the New York Times. In the span of just a few weeks, orders for both business and consumer tech products have collapsed, and technology companies have begun laying off workers. The plunge is so severe that some executives are comparing it with the dot-com bust in 2000, when hundreds of companies disappeared and Silicon Valley lost nearly a fifth of its jobs. October "was like turning a switch," said Robert Barbera, chief economist...

Subscribe to Read More

Are You an Educator?

Get Free online access to all our
news and resources and get
eCampus News Today email newsletter

About the Author:

eSchool News