Will there be a tech downturn?
Posted on April 7th, 2008 by sherrilynne
The media is still full of doom and gloom about the global banking and finance industry, with daily stories about valuations being cut and massive redundancies being imminent.
We like to think that the Isle of Man will not take a hit, but it would be naive to assume that world events cannot touch us.
As reliant as we are on the financial sector, the negativity is bound to hit every aspect of the economy — especially those industries that support banking, such as information technology.
Financial organisations are being forced to redraft their investment plans to cut costs and it is usual practice for the first item on the hit list, after a reduction in workforce, is the IT budget.
Click here to read the rest of this Tech Talk column.
Filed under: Tech Talk
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