C-level IT execs predict year-long downturn

A sizable majority of C-level technology executives believe the industry is being hit hard by the economic downturn and the effects will not be resolved in the short run, according to a new survey. DLA Piper, an international law firm that does venture capital and intellectual property work in the tech sector, released the survey as part of an annual technology summit in East Palo Alto, Calif.

About 85 percent of respondents said the industry is in for another year or more of the current economic conditions, signaling a view that the present financial challenges will not be quickly resolved. More than 75 percent said they have been adversely affected by the economic slowdown, but 21 percent have seen no impact yet. Thirty-seven percent of respondents identified themselves as a CEO, president or managing director. Forty-four percent work for companies with fewer than 1,000 employees, and 28 percent work for companies with 5,000 to 10,000 employees.

For more on this survey:
- see this eWeek.com article

Related Articles:
Some IT sectors may profit from downturn
The IT workers' meltdown worry list
Workers anxious in uncertain times