The New York Times reports that, in just a few weeks, orders for both business and consumer tech products have collapsed, causing technology companies to lay off workers.

How serious is this? Serious enough that tech executives are comparing the situation with the dot-com crash in 2000, when hundreds of companies disappeared and nearly a fifth of all Silicon Valley jobs were lost.

Source: Ashlee Vance, “Tech Companies, Long Insulated, Now Feel Slump”, The New York Times, November 14, 2008

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