Is IT economy heading for another recession?

With all the news about a lot of Indian firms laying off their workforce are these signs of a low in IT sector. Well, following is what news agencies are reporting.

Satyam Computers has just started giving pink slips to its employees, could potentially downsize its workforce by a whopping 4,500 employees.

Hewlett-Packard Co plans to cut 24,600 jobs, seeking to realize savings from its recent acquisition of Electronic Data Systems Corp.

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