What a Wall Street Decline Means to Enterprise IT

Insights into Wall Street and tips for IT and business managers looking to understand the financial sector and how to solve budget problems posed by a stock market dip.


Mon, September 15, 2008

CIO

Samsung Q1

IT Slashes Budgets, Starts Layoffs: Exclusive CIO Survey

How much has IT budget anxiety grown? Forty percent of CIOs plan to cut their budgets from last year's level, with contractors and discretionary technology projects first in line for cuts: that's up from 26 percent in July and 17 percent in March.

4 Cynical Strategies for Protecting Your Job During a Recession.

Getting to know your boss, making your contributions known, being a team player and actually get things done can likely save your job.

Financial Crisis May Lead to Hiring Freezes, Layoffs in IT, says Gartner

The deepening economic downturn prompted Gartner to reduce its IT spending forecast for 2009 and to raise the specter of hiring freezes and job cuts.

Which IT Jobs Will Survive the Financial Crisis?

IT managers at financial services firms may be at a higher risk of losing their jobs than rank-and-file tech workers who service the networks and data centers.

Recession Increases Security Risks, Particularly Insiders Threats

As companies downsize due to economic downturn, they need to keep an eye out for employees disgruntled by layoffs and other cost cuts.

IT Jobs and the Financial Crisis: What Tech Workers Need to Know

How long will the recession last? Will I get fired? Will I get outsourced? Will I be able to find a new job? This story attempts to answer your most pressing questions about the economy and your IT job.

9 Tips for Taking Control of Your IT Career in the Face of Layoffs

With the unemployment rates at their highest level in six years and layoffs planned at some of the biggest companies, tech workers are feeling anxious about their jobs and powerless in the face of economic uncertainty. Two IT staffing experts offer some empowering advice for all IT workers.

10 Secrets for Searching for a Job During a Recession

Focusing your efforts on jobs in growing industries and demonstrating how your work has generated revenue are just two simple ways to distinguish yourself from the rest of the job seekers competing for positions in a down economy.

Financial Industry Mergers, Acquisitions and Meltdowns: What's in Store for IT Execs and Staffers?

Economic chaos has rocked thousands in IT: From CIOs, such as Merrill Lynch's Tom Sanzone and Washington Mutual's Deb Horvath, to tons of jittery IT workers.

Credit Suisse CIO Jumps Ship to Merrill Lynch Amid Industry Turmoil

With the financial services industry in rough shape, veteran CIO Tom Sanzone leaves one company that's in a bit of hot water for another that just suffered its worst quarter ever.

Recession Worries? Open Source Software Is a Great Way to Cut Costs

IT budget slashed again? If you need to cut costs, open-source software can save you a bundle-- and it's likely a better application than the proprietary equivalents.

Five Cheap (or Free) Software Programs You Can Afford During a Financial Crisis

Open-source software can save you a bundle; these are five prime examples that are every bit as good, if not better, than their proprietary equivalents.

Cutting Costs: 7 Great Tips for IT

Using open source and free software, encouraging telecommuting, and even outsourcing, these tips can help you cut costs, save money, and let you focus on what's really important: the bottom line.

IT Budget Tips: Relief Strategies to Beat the Budget Crunch

A solid IT risk and compliance program will lower costs, reduce risk and permt consistent compliance. With better security, lower audit burden, improved leverage of IT resources, fast decision-making and business process optimization, companies can gain some recession relief.

Unlike Earlier Bubble Burst, This Recession Not Likely to Spur Tech Innovation

Innovation not always sparked by recession

Recession Fears, Demanding Workloads Stress IT Pros

A recent survey shows that increasing workloads and the economic crisis are taking a stressful toll on IT professionals.

Financial Crisis Means IT Pros Must Wear Multiple Hats

IT professionals have to take an additional responsibilities when their departments are initiating hiring freezes or layoffs. While working double duty can be stressful, it can also provide opportunities for IT pros to learn new skills and expand existing ones.

Recession Increases Security Risks, Particularly Insider Threats

As companies downsize due to economic downturn, they need to keep an eye out for employees disgruntled by layoffs and other cost cuts.

Is It a Good Idea to Change Jobs During a Recssion?

Even during a recession thereâ¬"s a silver lining. Moving on might be better than staying at your current job where your workload piles on, but your salary stays flat.

Recession? What's Your Plan?

Whether a CIO is a strategic thinker or a tactical team player, opportunities during a recession do take shape.

IT Budgets Frozen by Recession, Survey Shows

The recent economic crisis has many IT leaders tightening their belts and preparing for sparse spending in the coming months.

Offshore Outsourcing: What Role Will the Recession Play?

As the U.S. economy continues its downward spiral, analysts who predicted lost jobs would cause a surge in outsourcing are eating their words.

US Recession May Benefit Indian Outsourcers

Smaller budgets force US companies to cut costs and send work to Indian outsourcers

At Least Microsoft Admits We're in a Recession

Appleâ¬"s Steve Jobs rolls with the punches, while Microsoft at least acknowledges economic caution.

Surviving the Recession: 9 Sites to Help You Save Money

Find cheap gas or a less expensive cell phone plan, track your mileage, find a good loan. These sites will help you cut costs for home and office.

6 Recession-Proof IT Jobs

Not all jobs are being offshored and outsourced. Some positions in IT are among the most recession-proof jobs across all fields.

Are You Worried about the Impact of a Recession on Your Job? You Should Be.

IT likely to join rest of U.S. industries hit with the economic downturn.

Recession: Will Your Vendors Be Acquired?

Smart companies will hunt for good merger and acquisition opportunities, with stocks at multiyear lows. Here are the M&As to watch.

A Response to Recession Fears

Fight a recession with teamwork and extra effort.

IT Careers: How to Be a Successful Contractor in a Recession

IT workers facing potential layoffs should consider preparing for life as a free agent now in hopes of finding work in the future.

5 Reasons Gen Y is Unprepared to Survive Recession, Layoffs

The current economic downturn is the first one Generation Y will experience as working adults. There resulting budget and job cuts may come as a complete shock to this entitled, demanding generation. Do they have enough grit, experience and manners to bounce back?

Nine Ways to Get on the CFO's Good Side During a Recession

IT leaders must prepare to cut costs and communicate their plans with their CFOS in this weak economy. Forrester Research identitifies nine ways CIOs can prepare for the looming recession.

Got Recession? Think Global.

A recession in one country doesnâ¬"t mean you canâ¬"t start focusing on growing your business elsewhere. First analyze, then strategize.

Venture Capitalists Wary of Economy, But Don't Expect Another Bubble Burst Just Yet

Analysts say Web 2.0 and green tech could see more sluggish funding as venture capitalists worry about exit strategies.

The Art of the New Deal

Take it from the masters of vendor management: Despite a looming recession, now is the right time to push vendors for a better deal and to make industry consolidation work for you.

5 Reasons Gen Y May Survive Recession, Layoffs Better than Gen X and Boomers

Generation Y is known for being high-maintenance in the workplace. So when an economic downtorn brings Gen Y workers pink slips instead of promotions, you might think they'll wither like flowers. In fact, they may be better positioned for surviveal than their older co-workers.

Attitude Adjustment: 5 Things Gen Y Can Do to Survive Recession, Layoffs

Workplace experts agree that Generation Y professionals may have a difficult time surviving a recession because they're not used to having to make sacrifices and because they've never lived lived through an economic downturn before. Here's what members of Generation Y can do to prove those experts wrong.

20 Tips for Surviving a Layoff, From Someone Who's Been There

An IT manager who lost his job earlier this year offers his advice for getting back on your feet and into the IT job market after a layoff.

How CIOs Are Responding to the Economic Downturn

Though many IT leaders are making weekly and monthly adjustments to their IT budgets, they continue to focus on the long-term and make investments in virtualizaion and business intelligence.

Innovating Through an Economic Downturn-Don't Hibernate, Innovate!

IT Leadership: Best Practices for Surviving an Economic Downturn

An economic downturn means upping the ante. Consolidating projects, fair layoffs, remembering customers and thinking twice will help get you through.

India Adds 10M Mobile Subscribers Despite Economic Downturn

Some mobile subscription gains due to waning of fixed line connections.

Sun Says Q4 Profit Drops, Warns of US Economic Downturn

U.S.-based companies make up 40 percent of Sunâ¬"s revenue, many affected by recession.

Will the U.S. Tech Industry Continue to Defy the Economic Downturn?

AT&T, Apple, Microsoft and others report strong demand, remain optimistic despite downward economy.

TSMC Sees Big Revenue Drop, Spending Cuts As Downturn Bites

TSMC cutting itâ¬"s spending by 20 percent in hopes to thwart affects of economic crisis.

IDC: Economic Crisis to Bolster Cloud Computing

Cloud computing lets businesses gain and maintain IT affordably.

Venture Investor has High Hopes Despite Economy

Even during a recession startups still take shape, thus keeping venture capitalists in business.

Internet Economy Looks Strong, Some Experts Say

Recession hits some industries badly, but not the Internet economy--online advertising and e-commerce both remain strong.

CIOs Trim Spending, Desktops Make a Comeback and More

This issue of Trendlines from the 9/1/08 issue of CIO magazine covers IT budgets, the return of the desktop, SaaS and the fight against cancer, why developers think the CIO is clueless and recent changes in the C suites around the country.

Recession Proof Your IT Budget

An economic downturn in one market sector will leave some people proceeding more cautiously in others.

Wall Street Financial Crisis to Lead to Layoffs in IT

IT consulting firm Janco Associates estimates that 13,000 IT jobs at Lehman Brothers

Recession-Proof Yourself: How to Save Your Job When Layoffs Are the Order of the Day

When times get tough, it pays to communicate your worth. Also valuable: diplomatic skills, teamwork and some detective work to anticipate what's happening at your organization.

Worried About a Recession? How to Hold the Line on Your IT Budget

The recession may not be official, but companies aren't waiting to rein in costs. Here's how to get smarter about what you spend on IT.

Does Your Work in IT Matter to Wall Street?

The truth is that IT matters a lot when systems and networks go horribly and publicly wrong. And that IT run very well is difficult for Wall Street analysts to notice.

Credit Suisse CIO Jumps Ship to Merrill Lynch Amid Industry Turmoil

With the financial services industry in rough shape, veteran CIO Tom Sanzone leaves one company that's in a bit of hot water for another that just suffered its worst quarter ever.

What You Can Learn about Risk Management from Societe Generale

Weak IT access controls cost the French bank $7.2 billion. The case should prompt you to rethink how you balance IT security with employee access to critical systems.

How to Keep Wall Street Analysts Happy

Most financial analysts aren't experts on technology, but they know how to spot an IT-induced financial fire. Here are three hot spots to avoid.

Credit Suisse's Balancing Act

Game-changing IT projects require time and investment. Wall Street likes quick wins and cost savings. How one public-company CIO balances the two.

How IT Executives Can Help Speed Up Financial Reporting

When it comes to closing the books, the benefits of speed are undeniable. And CIOs are uniquely positioned to help their organizations reap them.

CIO Job Search: A Real-Life Chronicle

Job-hunting CIO Mark Cummuta offers advice and insight on navigating the ups and downs of a job search.

Managing IT in a Recession

What should CIOs and other IT leaders be doing to prepare?

IT Value Metrics: How to Communicate ROI to the Business

CIOs are always faced with pressure to justify their IT expenditures. Now, new research can help correlate those IT dollars spent with business value accrued.

How to Present Your IT Budget

Here's how to make your next budget presentation a winning proposition.

Taming Telecom Costs

Most companies mismanage telecom expenses and planning...and are now asking the CIO to fix the problem. Here's how to take stock and clean up the mess.

What Service-Based Costing Really Means

A concept from ITIL could make a huge difference this budget cycle.

Hot IT Jobs: Head of IT Finance

What you need to know about the requirements and responsibilities for this position.

Penny Pinching All-Stars

Eight CIOs share their tips on how to do more with less.

Good Stuff Cheap

CIO's tour of the secondary market—its characters, its characteristics, the products and the prices that are insane!.

Best Practices for Surviving an Economic Downturn

Tips to avoid making hasty—and bad—decisions when being asked to cut costs.

Managing Your IT Staff Among Rampant Layoffs

What's in store for CIOs as you manage IT staffs? Less spending and more managing, for one thing.

What It Means to Run IT Like a Business

This mutual mandate from the CEO, the CFO and the CIO will turn IT from a credibility-damaged cost center into the aligned business partner it needs to be—and always should have been.

The Best Best Practices

With the mandate to run the IT function like a business, you also have to be a CEO: planning and executing IT financial controls, marketing campaigns, HR strategies, customer service efforts and all the other disciplines that make a business run.

IT Spending: Your Budget Playbook

Blindside your CEO with a simple plan that benefits you while telling him what he wants to hear...spending money on making people more productive, not adding computers.

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