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Bottom for dot.com cuts?
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June 26, 2001: 1:56 p.m. ET
Survey shows June layoffs at Web-based companies reached eight-month low
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NEW YORK (CNNfn) - Layoffs at dot.coms may be bottoming out, according to a new industry survey, which reported Web-based companies cut 9,216 employees in June, down from the 13,419 workers released in May.
The latest figures from outsourcing firm Challenger Gray and Christmas, Inc. represent an eight-month low for job cuts in the sector. Last November, dot.coms let 8,789 employees go.
Despite June's positive numbers, dot.coms cut 74,199 employees in the first half of 2001, 14 times more than the same period last year.
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"We are seeing more job cuts from well-known, brand-name companies," said John Challenger, chief executive of Challenger Gray and Christmas. "The mom-and-pop category seemed to dominate the earlier waves of dot.com cuts."
Those well-known Internet technology companies released 5,817 workers, almost six times the amount let go by Web services firms, 1,185, and consumer service companies, 1,130.
"It would appear," Challenger said, "that many of the smaller, more independent dot.com firms have been swallowed up by their larger competitors or have fallen into bankruptcy and eventual closure." 
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