October 2008 will be remembered as the time in which the credit crunch hit the tech sector. Startups have begun preparing themselves for a bleak and uncertain economic future by cutting costs and focusing on efficiency. This has been achieved most obviously through layoffs, which can reduce burn rates quickly and dramatically for web companies that require little physical capital.
Of course, many companies see this moment as an opportunity to bring bad news and to lay off temporary or excess workers. But in the end nobody knows how deep the recession will strike, and more importantly for how long. Meanwhile, fear reigns, budgets are cut, projects are postponed, and training and education of employees are put on hold.
Who dares to break this negative trend ?
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