From what I'm hearing/see, it's worse than 2002 by a long shot. :\ 2001-2004 was pretty bad (from what I recall Cisco laid off about 20% of it's engineering tea

From what I'm hearing/see, it's worse than 2002 by a long shot. :\ 2001-2004 was pretty bad (from what I recall Cisco laid off about 20% of it's engineering team), but it was clear by 2003/4 that the growth of dial up subscribers was going to continue, so people were able to find jobs again although senior devs moved to much lower paid jobs.