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Tracking the tech downturn
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As the broader economy continues to stall, the tech industry is taking its hits. We follow the downturn and its impact on the sector, from the long-time industry leaders to the scrappy start-ups.
Latest coverage | Previous coverage
Latest coverage
Gartner: Growth coming after IT's worst-ever year
Expect 3.3 percent growth to $3.3 trillion in 2010. Also, Gartner releases fresh buzzwords: "context-aware computing" and "pattern-based strategies."
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IAB: Internet ads actually doing OK
A 5.3 percent shrinkage in online advertising for the first half of 2009 isn't all that bad, when compared to rest of the ad market, new figures indicate.
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Microsoft closing YouTube rival
The software company already was paring down its Soapbox video site, but now it says it'll be eliminated altogether.
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Dell poised to benefit most from PC market recovery
The PC maker will see improvement when its corporate customers start buying computers again later this year and into 2010.
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Forrester: Tech recovery to start in fourth quarter
IT spending should pick up again in the fourth quarter in the United States, Forrester Research forecasts, followed by increased spending in 2010 in Europe and Asia.
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NY mayor: Info to the people will improve gov't
Michael Bloomberg kicks off the Personal Democracy Forum conference by suggesting that governments will run more smoothly by making information more readily available to the people--the same concept that made him a billionaire.
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Gartner: PC sales to pick up by end of the year
Shipments will be down 6 percent this year compared to 2008, but positive growth is expected for 2010.
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Tech layoffs: The scorecard
Follow the companies that are shedding workers with this live layoff tracker, which we'll continue to update as more news surfaces.
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MySpace slashes head count by 30 percent
Once the leader in social networking, the News Corp. division has announced a "return to start-up culture" that involves cutting nearly a third of its U.S. staff.
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Microsoft: No iPhone reimbursements for workers
As part of its wave of cost cuts, the software maker will only reimburse workers for Windows Mobile cell phones.
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Wired magazine's pitch to New York
Wired Business Conference targets suits, not geeks, as it looks at changing business practices that both caused and are being decimated by the current recession.
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N.Y. Internet Week: All in the same boat
The mood at the annual digital-culture confab was one of cautious optimism and camaraderie--except when it was clear there are still lots of unknowns.
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For Internet Week, NY's tech elite emerge from bunkers
The second annual digital culture extravaganza starts Monday, and it will be taking place in a very different New York than last year's, to say the least.
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Honeywell TV maker files for bankruptcy protection
Another small TV maker finds it rough going in the current economic environment for consumer electronics, filing for Chapter 7.
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Microsoft layoffs hit several products
Software maker is downsizing its ambitions in several areas including its ResponsePoint phone system for small businesses.
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Ballmer on Microsoft's new layoffs notices
In an e-mail to staff, CEO Steve Ballmer addresses the layoff notices that Microsoft sent out Tuesday.
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Microsoft sends second wave of layoff notices to 3,000
Software maker, which announced in January it would cut up to 5,000 jobs over 18 months, has now eliminated nearly that many positions as more than 3,000 layoff notifications are sent out Tuesday.
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Motorola continues to bleed amid rotten economy
Even as it takes steps to reduce costs, the company reports heavy losses for the first quarter of 2009 as demand for its handsets weakens.
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Microsoft cancels company picnic
As part of its broader effort to trim expenses, the software maker tells employees that it is axing the summer ritual.
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Microsoft: 'Pressures are broad and deep'
In its earnings conference call, the software maker says it remains "more cautious than most" about the global economy.
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Now closing: GeoCities, a relic of Web's early days
Yahoo's closure of its personal home page service comes as no surprise. Today, Internet self-expression is all about blogs and social networks.
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Microsoft sales fall 6 percent from a year ago
The software maker fails for the first time to see year-over-year revenue climb, as sales fell 6 percent from a year earlier for the three months ended March 31.
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Sign of the times: Microsoft sales drop?
If projections hold, Microsoft will report the first year-over-year drop in its sales as a public company. The company's report Thursday will offer a sense of whether things are going from bad to worse.
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More job cuts at Toshiba
A worse-than-anticipated net loss forces the company to cut an additional 3,900 temporary employees.
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Analysis firm IDC cuts 5 percent of staff
The Framingham, Mass.-based firm says the cuts include 26 research analyst positions.
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Recession hits for real, but Google unfazed
Google's first-quarter results showed the effects of the recession. But the company still made plenty of money to invest in its long-term projects.
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Yahoo hammers final nail in Jumpcut coffin
The Net pioneer had already idled the site for sharing and combining online videos, but now it's closing it June 15.
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Facebook valuation rumors swirling again
No surprise here: the company needs more cash, and investors are willing to bite, but at a lower valuation than Facebook wants.
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U.S. PC market shows some resilience amid continuing decline
Shipments worldwide were down for the first quarter of 2009, but not as much as initially feared.
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Anchors aweigh: eBay casts off StumbleUpon
The online auctioneer purchased the "discovery" site in 2007 but never really found a way to use it. It's returned to its status as a venture-backed start-up now.
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Microsoft pulls plug on campus bar
The software maker was planning opening a bar on its campus. But with the economy headed in the tank, Microsoft has decided not to let its workers follow.
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Web 2.0 Expo: Time to hit refresh?
The dominant conversation at the San Francisco confab was how to innovate and thrive in the new economy. Here's a suggestion: change the way conferences work, too.
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Web 2.0 Expo: Are we finally leaving the Middle Ages?
Author Douglas Rushkoff provides an optimistic view of the financial crisis in a talk at the San Francisco conference: it's our chance to get rid of so many broken old systems.
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O'Reilly: The Web is still learning, but it can teach, too
The kickoff keynote for this year's Web 2.0 Expo wasn't too surprising: that the world has a ton of problems and that the tech industry has a lot to offer.
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Google cuts nearly 200 sales, marketing jobs
The recession's realities sink in further at Google, with a cut of about 1 percent of its workforce on top of earlier relatively small cuts.
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Houston, we've got slightly less sucky gadget sales
The Texas city's is the only major U.S. retail market to see positive sales growth of consumer technology at end of 2008, NPD says. Midsize Midwest markets have the smallest declines.
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Sony freezes employee salaries
Move is a first for the electronics giant. Bonuses will also be trimmed as the company attempts to stem losses.
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At SXSWi, how much should big media be listening?
The annual confab in Austin is a hotbed of wild ideas about the future of the media industry. But some of it should really be taken with a grain of salt--or several.
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HP further cuts EDS salaries
Hewlett-Packard tells employees of EDS, which it acquired last year, that their salaries will temporarily be cut by 10 percent more than was announced last month.
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Zuckerberg gets poked off Forbes billionaire list
Ouch! Facebook founder Mark Zuckerberg was named the world's youngest billionaire a while back, but the global recession has hit so hard that he's lost the title.
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Layoffs to hit another Dell plant
A North Carolina facility is expected to be affected by the company's cost-cutting moves, though Dell isn't saying how many jobs are being cut.
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CNBC spat mints online hits for Stewart and Colbert
When Comedy Central's fake-news pundits pulled out all the stops against the cable news show, traffic and Web video views hit yearly highs.
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Piczo to join forces with fellow teen site Stardoll
It's no surprise that in the current recession, smaller social networks are merging to have better access to advertisers and a broader reach.
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Obama's team lends an ear to the Valley kids
Does the administration really need to hear from the CEOs of companies that haven't actually made any money yet? To be honest--yes.
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Audio slide show: LaidOffCamp takes creative approach to downturn
This quirky un-conference brought together more than 600 people in San Francisco to share ideas about how to find employment and support during the recession.
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PC shipments to decrease 4.5 percent in 2009
IDC updates its forecast of the PC industry's health for the year. Although it will be hit hard, it will not "go the way of the financial or auto industries."
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Dell's profit falls almost 50 percent
The PC maker's earnings sink as technology spending dives worldwide. Also, fourth-quarter revenue falls 16 percent.
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Google nixes shared stuff, mobile ad site
The grim economic times have snuffed out another couple of small projects, one for sharing Web links and videos and one for creating ads tailored for mobile phones.
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As server sales tank, IBM still leads pack
Worldwide server revenue falls 14 percent year over year in the fourth quarter, IDC says, while full-year revenue for 2008 dips 3.3 percent.
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Microsoft aims to 'Elevate America'
Amid the severe economic conditions, Microsoft is announcing a program to give technology training to up to 2 million Americans.
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Previous coverage
For Black Friday, shades of gray
Retailers looking for the annual surge in sales face rough going this year, as the economy crumbles and consumers play hard to get.(Posted in Business Tech by Erica Ogg)
November 24, 2008
The big chill for holiday parties?
In the tech industry, holiday parties aren't getting canceled left and right in the face of cost-cutting, but things are certainly being done differently this year.(Posted in The Social by Caroline McCarthy)
November 21, 2008
Economy takes bite out of CES
Responding to the down economy, Cisco, Yahoo, Seagate, and others are forgoing booth exhibits at the Consumer Electronics Show.(Posted in Crave by Stephen Shankland)
November 20, 2008
Phishing, e-mail money laundering scams on the rise
Security experts say they're detecting a marked increase in online scams amid the economic downturn.(Posted in Security by Elinor Mills)
November 20, 2008
Broadband proponents to Congress: Invest in future, not autos
Investment in broadband deployment is more likely to help our economy than investments in the auto industry, panelists at a symposium said Wednesday.(Posted in Politics and Law by Stephanie Condon)
November 19, 2008
Apple's holiday not looking great, could be worse
Preliminary estimates of Apple's performance amid one of the worst economic periods in years indicate no one has a magic bullet for recession, but some fare better than others.(Posted in Apple by Tom Krazit)
• Which PC maker will fare best in a bad economy?
• HP sees fourth-quarter sales boost
November 17, 2008
Which PC maker will fare best in a bad economy?
Hewlett-Packard's broad price range and product lineup could keep the tech giant rolling while others suffer.(Posted in Business Tech by Erica Ogg)
November 14, 2008
Tech may not shed so many jobs this time
Whatever job cuts occur in the technology sector in the coming months, they're unlikely to be as deep or as lasting as the cuts that occurred in the dot-com bust.(Posted in Business Tech by Dawn Kawamoto)
October 21, 2008
Forrester: Holiday e-commerce growth to slow
But on the bright side for online retailers, more people say high gas prices and better online deals may cause them to do their holiday shopping on the Web.(Posted in Crave by Caroline McCarthy)
• Can gadget bargains be had before the holidays?
October 22, 2008
Report: As stock market drops malware rises
PandaLabs statistics show how cybercriminals are taking aim at confused consumers in a time of economic uncertainty.(Posted in Security by Elinor Mills)
October 22, 2008
Gold sales shine in dark economic times
Internet retailers selling precious metals say that economic uncertainty, the stock market crash, and inflation fears have led to a resurgence of interest in all kinds of precious metals--and a shortage of gold and silver coins.(Posted in Politics and Law by Declan McCullagh)
October 20, 2008
How Wall Street's mess will hurt high tech
Consolidation and financial uncertainty at the nation's largest securities firms will close some doors to tech companies aiming to go public, slow the process for M&A deals, and add more worry lines to tech investing.(Posted in Business Tech by Stefanie Olsen)
September 15, 2008
Number of IT venture deals falls to 10-year low
Venture capitalists pull back sharply, shrinking U.S.-based tech deals to a level not been seen in more than a decade, according to Dow Jones VentureSource.(Posted in Business Tech by Dawn Kawamoto)
October 20, 2008
Optimism springs eternal at Web start-ups, VCs
Whistling past the graveyard? Maybe not. There's more happening in start-up land than just a shedding of personnel.(Posted in Webware by Rafe Needleman)
October 20, 2008
Venture investing tops $7 billion in third quarter
But will financial market woes clog up the spigot? For the moment, at least, the software and clean-tech sectors have done all right for themselves.(Posted in Business Tech by Jonathan Skillings)
October 18, 2008
Analyst cuts growth projections for Net, e-commerce companies
A Wall Street analyst says investors should brace themselves for companies lowering their forecasts for future quarters.(Posted in Digital Media by Dawn Kawamoto)
October 3, 2008
The tech downturn: How long and how bad?
We interviewed more than 20 executives, venture capitalists, and bankers to see what they think. While there's little consensus, one thing's for sure: they're plenty worried.(Posted in Business Tech by Jim Kerstetter)
October 9, 2008
Dark times for Web ads: Analysts cut forecasts
Online-advertising budgets are likely to be flat or decreasing, and companies such as Google and InterActiveCorp that on it can expect to feel the pain, financial analysts say.(Posted in Digital Media by Stephen Shankland)
October 15, 2008
In downturn, solar industry sees bright days ahead
Because the numbers on solar energy investments are looking better and comparatively safer, the business predicts rapid growth despite the economic crisis.(Posted in Green Tech by Martin LaMonica)
October 17, 2008 4:00 AM PDT
Dark times for Web ads: Analysts cut forecasts
Online-advertising budgets are likely to be flat or decreasing, and companies such as Google and InterActiveCorp that on it can expect to feel the pain, financial analysts say.(Posted in Digital Media by Stephen Shankland)
October 15, 2008 7:29 AM PDT
Dow soars with Apple, Microsoft among double-digit gainers
Investors cheered Monday as the beleaguered index gets back up above the 9,000 mark by surging 936 points in its largest single-day point gain ever.• Gartner and UBS provide a mixed view on IT spending
• Gartner on IT vs. the economic crisis
(Posted in Business Tech by Dawn Kawamoto)
October 13, 2008 1:26 PM PDT
Entrepreneurs are worried, but some are not worried enough
Overconfidence remains strong among start-up CEOs, a quick survey shows. A little more fear might help more young companies survive the tanking economy.(Posted in Webware by Rafe Needleman)
October 13, 2008 10:00 AM PDT
Taking stock of stock losses, 1999-2008
If you bought shares in most tech companies in October 1999 and sold them today, you would have lost money. And then there's inflation.(Posted in Business Tech by Declan McCullagh)
October 13, 2008 4:00 AM PDT
A very long week of losses
What with one stock sell-off followed by another, the tech sector's biggest names have all taken their lumps. Ditto for the start-up crowd.
Tech's next step: More M&A?
The last time Silicon Valley got hit by this kind of a financial storm, it remade itself and emerged stronger. Will Darwin apply this time around as well?(Posted in Coop's Corner by Charles Cooper)
October 10, 2008 12:33 PM PDT
No economy too dire for these developers
Far from Wall Street, attendees of London's Future of Web Apps confab aren't panicking. Is it entrepreneur's pluck or old-fashioned naivete?• AOL to developers: Put passion over profit
(Posted in The Social by Caroline McCarthy)
October 10, 2008 12:00 PM PDT
11 troubled Web companies: The next Kozmos?
Some popular Web companies may be vulnerable to the economic slowdown. Do they face an ill fate similar to that of the beloved delivery service of the last bubble?(Posted in Webware by Rafe Needleman)
October 10, 2008 7:30 AM PDT
Microsoft exec: Challenging times play to our strengths
Microsoft Business Division President Stephen Elop says the software giant is trying to get the message out that it can help its customers save money in tough times.(Posted in Beyond Binary by Ina Fried)
October 10, 2008 11:47 AM PDT
Chip gear industry's funk is a red flag
The downturn in the business of building chip equipment means that chipmakers are pulling back.(Posted in Business Tech by Brooke Crothers)
• Chip forecasts head south October 10, 2008 7:07 AM PDT
VCs throw cold water on portfolio companies
From Sequoia Capital to angel investor Ron Conway, the message is clear and persistent: prepare for the worst.(Posted in Digital Media by Dawn Kawamoto)
October 10, 2008 7:07 AM PDT
The tech downturn: How long and how bad?
We interviewed more than 20 executives, venture capitalists, and bankers to see what they think. While there's little consensus, one thing's for sure: they're plenty worried.• Angel investor Ron Conway to portfolio: Cut expenses now
• Wall Street gives Net titans price cut, sector caution
(Posted in Business Tech by Jim Kerstetter)
October 9, 2008 4:00 AM PDT
Making sense of the tech meltdown on Wall Street
Why did typically stable SAP lead the way into the cellar? The normal rules of the high-tech industry's economics may not apply as the overall economy seems to unravel.• Podcast: Catching our breath, post-tech selloff
(Posted in Business Tech by Jim Kerstetter)
October 6, 2008 4:00 PM PDT
Bailout or not, the tumble begins
The House of Representatives stuns economy watchers by failing to pass a bailout bill. Days later, a revised bailout bill passes the Senate, but the markets remain spooked and frantic.
Troubled times ahead for tech?
Politicians are turning cartwheels to connect the meltdown on Wall Street to Main Street. But the companies along Hwy. 101 are just as vulnerable to a crummy economy.(Posted in Business Tech by Jim Kerstetter)
October 2, 2008 4:35 PM PDT
The makings of another tech mess?
A shaky overall economy inevitably spells trouble for the tech industry. Here's a breakdown of how it could play out.(Posted in Business Tech by Jim Kerstetter)
October 2, 2008 4:34 PM PDT
Employment outlook gets murkier at tech companies
Amid a "hiring chill" in Redmond, CNET News checked in with other big tech giants on their personnel plans.(Posted in Beyond Binary by Ina Fried)
• Microsoft denies companywide hiring freeze
• Daily Debrief video: A chill in the air for tech workers
October 3, 2008 2:34 PM PDT
Bailout bill loops in green tech, IRS snooping
Originally a three-page $700 billion bill, House-approved bailout package now includes surveillance provisions and tax credits for green tech, SunKist tuna, and wooden arrows.• New phishing attempt targets bank customers
(Posted in Politics and Law by Declan McCullagh)
October 3, 2008 10:07 AM PDT
Tech entrepreneurs changing strategies, not products
Money is getting tight, but that doesn't mean start-ups should give up, say investors at the Startonomics conference in San Francisco.(Posted in Webware by Rafe Needleman)
October 2, 2008 12:35 PM PDT
Tech M&A spending takes big hit in third quarter
Tech mergers and acquisitions fell by a third compared to a year ago. Decline fueled by credit tightening and havoc on Wall Street, says a new report by The 451 Group.• Yahoo to cut its workforce?
(Posted in Business Tech by Dawn Kawamoto)
October 2, 2008 8:32 AM PDT
Senate passes bailout bill
The Senate passes a revised bill that adds tax cuts and other add-ons, in addition to the $700 billion financial rescue.(Posted in Business Tech by Ina Fried)
October 1, 2008 7:20 PM PDT
Why the credit crunch is about more than Wall Street
A lack of credit affects businesses from tech giants to mom-and-pop stores to all manner of consumers.(Posted in Business Tech by Ina Fried)
September 29, 2008 2:49 PM PDT
Tech stocks hammered as bailout fails in House
Stocks, including those of technology companies, took a beating after the House of Representatives fails to pass the government bailout of the financial sector.• Apple shares drop 17.5 percent
(Posted in Business Tech by Ina Fried)
September 29, 2008 11:29 AM PDT
Web leaders on economy: Keep calm and carry on
At the Web 2.0 Expo in New York, just a stone's throw from the turmoil on Wall Street, it was hard not to notice the financial-industry meltdown.(Posted in The Social by Caroline McCarthy)
September 19, 2008 12:00 PM PDT
More
See our running list of who is laying off
See our running list of who is hiring
Read our "Faces of the recession" series
Videos
Google feeling the pinch?
ZDNet's Sumi Das and Sam Diaz talk about Google's financial future and what one analyst's outlook might mean for the company's employees and competitors.
Who needs profits living in Web 2.0?
Remember that saying that start-ups should think about profits? Apparently, that's just a quaint idea to some of the leading lights in the Web 2.0 ecosystem.
Venture capitalists: We're still open for business
At a VentureBeat conference on managing through the economic downturn, a panel of venture capitalists painted a gloomy picture for the economy overall. But they say they're still making investments.
Didn't they say tech start-ups were toast?
Many early-stage tech start-ups continue to receive funding. And many techn companies say they are hiring. How to explain the apparent contradiction?
How will the recession affect Web 2.0?
In this ZDNet video, Charlene Li says Web 2.0 companies will need to buckle down and focus on new innovations, collaboration, and getting things done.
Web 2.0 casualties in the making?
A fan of Twitter, Pandora, or Skype? Rafe Needleman lists 11 popular start-ups that had better find creative business plans to weather the financial downturn.
Talking with Newt Gingrich on tech, bailout
Newt Gingrich stopped by CNET's offices in San Francisco to talk about technology, politics, and Silicon Valley.
Tech stocks plummet with the rest
Kara Tsuboi and Ina Fried discuss which stocks have been hit hardest and why the financial crisis has hit both enterprise and consumer-oriented companies.
A chill in the air for tech workers
Kara Tsuboi and Ina Fried discuss who's freezing hiring, firing, or just trying to stay afloat.
CNET Tech Index
Keep a close watch on the intraday and long-term performance of the tech sector, from Adobe and Apple to Xerox and Yahoo, with the CNET Tech Index.
