Shakeout? No Worries
Close to 900 people responded to the poll. 43 percent of them expect half of today’s startups to disappear within a year. Another 30 percent think about a quarter will go to the wall.
That’s hardly surprising in view of all the gloomy news. Public companies like Cisco Systems Inc. (Nasdaq: CSCO), Nortel Networks Corp. (NYSE/Toronto: NT), JDS Uniphase Inc. (Nasdaq: JDSU; Toronto: JDU), and Redback Networks Inc. (Nasdaq: RBAK) are laying off staff. So are startups like Mayan Networks Inc., Zaffire Inc., and Jasmine Networks.
All the same, there are bright spots, according to the poll. More than a quarter of respondents say their companies will increase staffing levels this year, and another 19 percent say they’ll remain static. A sizeable percentage of respondents, however -- 26 percent -- say their companies will be laying off between 10 and 24 percent of their workforce.
A majority of respondents are optimistic about their own prospects. Forty-five percent say it’s unlikely they will lose their jobs, and 23 percent flat-out say that it won’t happen. Only 22 percent say they think there's a 50-50 chance that they will be cut loose within the year. A mere 2 percent say they’ve already been dumped.
What are folks doing to protect themselves in these uncertain economic times? They are going back to the basics: 32 percent say they have stopped spending extra cash and are now saving; 29 percent say the current situation has made them work even harder. While only 8 percent say they have moved to a job with more security, 16 percent say they are currently looking for such a position. But there is still a significant portion of those surveyed who aren’t worried at all: Nearly a third of those polled say they aren’t doing anything differently now.
Check out this month’s poll already on the Light Work site: Salary Survey. Compare how your salary stacks up against others in the industry, and track the latest trends in compensation.
-- Marguerite Reardon, Senior Editor, Light Reading http://www.lightreading.com