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Oct 2 2008   4:36PM GMT

Overheard: Wall Street, the election and your tech job

Margaret Rouse Margaret Rouse Profile: Margaret Rouse

pambaker.jpg The CIO Executive Board, a division of the Corporate Executive Board, polled 50 participants in a CIO conference call last Thursday to discuss the impact of turmoil in the financial markets and economic uncertainty on Q4 spending and 2009 plans.

According to the poll, 61% of CIOs are currently re-evaluating their 2009 budget plans and 59% are already re-negotiating IT vendor contracts. Almost half, 49%, are cutting spend on consultants and contractors and a majority, 59% are putting non-essential IT projects on hold. Twenty four percent (24%) are considering a hiring freeze.

Pam Baker, Wall St. and Elections Piling on the Uncertainty

Interesting article by Pam Baker — it’s not suprising that 24% are considering a hiring freeze. I’m curious to know how many would have said they’re considering staff reductions.

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