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Submitted: December 5, 2008 - 9:45am
Last updated: December 5, 2008 - 9:45am
Last updated: December 5, 2008 - 9:45am
Source:
BusinessWeek
Author:
Olga Kharif
A move by AT&T to eliminate 4% of its workforce may only be the beginning of a torrent of staff reductions and spending cutbacks in the $1 trillion telecom industry. As customers rein in spending on communications services, more staff reductions and capital spending cuts are probably on the way for telecommunications providers, moves that would probably hurt telecom equipment makers. "Telecom will be one of those sectors of the economy that gets hurt more than other parts [of technology]," says Susan Eustis, CEO of consultancy WinterGreen Research. As Americans lose jobs and struggle to make mortgage payments, more people are disconnecting their landlines, TV channels, and even Internet connections.
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During New Year, usually the predictions of different fortunetellers are always on the news. Sometimes it is about the celebrities, or sometimes our economic stability and business. I don’t know whether my predictions about payday loans will turn out to be accurate, but if I’m wrong, at least I’ll be in good company. I found an article that looks back on some predictions for 2008. Authors, businessmen and even the president were way off in predictions they made for the year that is coming to a close. That just goes to show that no one can tell the future. Based on predictions about oil prices, “the market” and Barack Obama, it seems 2008 was full of surprises.