The current situation has a very familiar feel to it. We all went through the tech wreck, and back then, budgets were pared, and generally the IT community suffered quite a drastic downturn.
But back then, it was limited to IT predominantly. This time around, I fear the result could be much, much worse. We are seeing almost all sectors of the economy affected, and IT is just along for the ride. If it continues, it will get into a situation where the budgets that IT WOULD have spent, will be trimmed simply as a consequence fo companies suffering cash flow problems due to the wider economy as a whole, as opposed to simply being asked by the CIO to reduce costs in line with what appeared to be a faddish approach among other CIOs during the tech wreck.
Time will tell, but this looks very, very bad.
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