[Reuters] Recession hits Silicon Valley as layoffs pile up

Posted by: UGN Security

[Reuters] Recession hits Silicon Valley as layoffs pile up - 01/24/09 12:11 AM

NEW YORK (Reuters) - The recession turned up late on Silicon Valley's doorstep but is likely to stay awhile, as technology companies slash thousands of jobs and rein in costs to make up for shrinking earnings and tight-fisted customers.