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High-Tech Market Recovery Rumors Are Just That

The computer sector is also doing its share, dropping more than 16,000 workers in the first quarter, including Oracle's layoff of 5,000 PeopleSoft employees.

It appears that the downsizing will continue for at least another quarter, and probably for most of the year. The demand for high-tech products is generally flat, so there's no reason to expect a sudden surge in hiring, according to Challenger, Gray & Christmas. The good news for tech managers is that, if by some miracle you have an opportunity to hire, you'll find a wealth of talent up for grabs. But for currently employed professionals, it looks to be another year of that old familiar refrain: "Just be happy you have a job."