"E-commerce sites and other dot-coms, which led all other sectors in November job cuts, are particularily vulnerable," said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, a recruitment firm that monitors job losses daily.
Layoffs or closures at dot-coms accounted for 19 percent of the 44,152 jobs lost in November.
"The holiday selling season could determine the fate of many of these firms. A strong one could mean another few months of existence, while a poor showing could result in more closures," he said.
While the Internet and e-business were among the chief engines of the late 1990s boom economy, with the Nasdaq tech-stock meltdown and slowing car and truck sales, the economy is forecast to slow further in early 2001.
Challenger said last month was the fifth straight that job losses have exceeded 40,000. The average number of monthly job cuts for the last five months was 51,365 and, according to Challenger, nearly 12 percent of those cuts were in the automotive sector.
The automotive sector had the most job losses so far in 2000, followed closely by retail.
"Consumer confidence has slipped and economic growth in the third quarter slowed to a pace not seen in four years," said Challenger.
"These are significant signs for companies as they finalize plans for the New Year. Despite the holidays, job cut announcements may increase even further in December."
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