I remember being at a large company in 2001 that was forced to shed about 40% of the workforce: Accenture (which went from 40k employees to a bit over half that

I remember being at a large company in 2001 that was forced to shed about 40% of the workforce: Accenture (which went from 40k employees to a bit over half that.) Same story for most of the large systems integration consultancies. Same story for many of our clients: telecom firms, financial services firms People remember 2000 as a tech startup bubble burst. But it was just as much a bubble burst for telecom (AT&T, Global Crossing, Lucent, others), financial services firms, and consultancies.