The Wall Street crisis hits IT jobs, too

The financial meltdown on Wall Street is bad news all around, and certainly not a happy moment for IT workers who were employed at places like Lehman Brothers or Merrill Lynch, which is being taken over by Bank of America. "There's going to be more high-quality high-tech people on the street," said John Estes of Robert Half Technology, which provides IT professionals nationwide. "A lot of these people are high-dollar folks, and they may not be quite as happy as they were before."

Estes told InformationWeek.com that it is premature to predict the extent of the fallout from the financial crisis for IT job markets, but he believes the situation will work itself out over time. He noted that top-notch IT workers who were laid off when the technology bubble broke eight years ago were quickly hired. All that sound fine, but if you are the one without a job, it's not much consolation.

For more on the financial crisis:
- see this InformationWeek.com article [1]